**Summary:**
- Coinbase (COIN, Financial) shares experienced a significant 10.3% surge, aligning with Bitcoin's milestone, which surpassed $90,000.
- Wall Street analysts present a promising outlook, with an average target price suggesting potential growth.
- Despite a slight downside in the GF Value, Coinbase maintains an "Outperform" consensus from brokers.
Coinbase (COIN) shares surged by 10.3% as Bitcoin broke the $90,000 threshold, sparking renewed investor confidence in digital assets. This surge, bolstered by a weaker US dollar, increased investor interest in cryptocurrencies. As a result, the stock closed at $189.93, marking an 8.6% rise from its previous close amid heightened trading expectations.
Wall Street Analysts' Predictions
According to the one-year price targets from 26 analysts, Coinbase Global Inc (COIN, Financial) is projected to reach an average target price of $284.50. With high estimates peaking at $400.00 and lows at $169.00, this suggests a potential upside of 49.74% from the current price of $190.00. For more in-depth estimates, visit the Coinbase Global Inc (COIN) Forecast page.
The company's current consensus recommendation from 29 brokerage firms is an average rating of 2.3, indicating an "Outperform" status. This rating falls on a scale where 1 represents a Strong Buy and 5 indicates a Sell, showing analyst confidence in Coinbase's potential.
Evaluating Coinbase's GF Value
GuruFocus estimates the GF Value for Coinbase Global Inc (COIN, Financial) at $184.72 over the next year, implying a slight downside of 2.78% from the current price of $190. This valuation represents GuruFocus's fair value estimate, calculated from historical price multiples, historical business growth, and projected future performance. Additional comprehensive data is available on the Coinbase Global Inc (COIN) Summary page.
