Goldman Sachs Upgrades Coinbase Stock to Buy After 12 Consecutive Months of Decline

Odaily News Goldman Sachs has upgraded its rating on cryptocurrency exchange Coinbase's stock from "Neutral" to "Buy," and raised its 12-month price target from $294 to $303. Analyst James Yaro noted that Coinbase is transitioning from cyclical growth to structural growth, with its subscription and services revenue share increasing from 5% in 2020 to 40% in 2025. He expects this segment to maintain a 13% annual growth rate from 2025 to 2027. The firm believes that Coinbase's expansion in custody, stablecoin, staking, and prime brokerage businesses will reduce earnings volatility.