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COIN carries a BUY rating with a $360 price target, implying 118% upside as crypto volumes recover and a 14% headcount cut takes hold.

USDC hit an $80 billion all-time high and stablecoin markets could expand tenfold to $3 trillion by 2030, fueling Coinbase's long-term bull case.

A 118x forward P/E and insider net selling headline the risks, but $10 billion in cash and a $290 bear-case floor offer some comfort.

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Our Coinbase (NASDAQ:COIN) call is unabashedly constructive. Shares have been battered in 2026, but the setup into the back half of the year looks compelling if crypto volumes normalize and the cost-out plan sticks.

The 24/7 Wall St. price target for Coinbase is $360.19 over the next 12 months, implying 117.66% upside from $165.48. Our recommendation is buy, with a confidence level of 90%. That is a high-conviction call on a high-beta stock.

Metric

Value

Current Price

$165.48

24/7 Wall St. Price Target

$360.19

Upside

117.66%

Recommendation

BUY

Confidence Level

90%

Coinbase has been a punishing hold. The stock is down 53.31% over the past year and 26.82% year to date, retracing from a 52-week high of $444.64 to a 52-week low of $139.18. Momentum is finally turning: shares are up 16.11% in the past week.

Q1 2026, reported May 7, was the flashpoint. Revenue fell to $1.413 billion, a 30.54% YoY drop, missing consensus. GAAP EPS came in at -$1.49, hammered by $482.4 million in losses on crypto assets held for investment.

Adjusted EBITDA, however, stayed positive at $303.3 million, the 13th consecutive positive quarter. Management announced a 14% headcount reduction targeting $500 million in annualized savings.

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The bull case rests on Coinbase's "Everything Exchange" expansion into equities, prediction markets, commodities, and FX, alongside the stablecoin franchise. USDC market cap reached an $80 billion all-time high in March 2026, and management sees stablecoins growing from ~$300 billion to $3 trillion by 2030.

Prediction markets are already annualizing $100 million+ in their first two months. Analysts back the setup, with a consensus target of $229.40 and 21 buy ratings against three sells. Our bull-case scenario points to $439.81 over 12 months if volumes reaccelerate and cost cuts flow through.

Crypto cyclicality is the central risk. Total crypto market cap and trading volumes fell 20%+ QoQ in Q1 2026, and transaction revenue dropped 23% sequentially. The forward P/E of 118x leaves no margin for another volume air-pocket. Prediction markets currently place the highest probability on $175 for July 2026, well below our target.

Insider activity has also skewed toward net selling across 90 recent transactions. In counterfactual defense, bulls would argue those GAAP losses reflect mark-to-market noise on strategic crypto holdings. Adjusted EBITDA and $10.2 billion in cash speak to underlying resilience. Our bear-case scenario still lands at $289.71.

The 24/7 Wall St. price target of $360.19 and buy rating carry a 90% confidence score. The key factor tipping the scale is the combination of a cleaned-up cost base, resilient subscription and services revenue at 44% of net revenue, and a stablecoin engine that keeps growing regardless of trading volumes.

The setup rewards investors who can stomach a beta of 3.32 and want optionality on a crypto reacceleration into 2027. The picture looks less favorable if crypto volumes keep contracting through year-end or if regulatory friction escalates.

Looking further ahead, here is where our model projects Coinbase could trade, assuming current growth trajectories and market conditions hold.

Year

24/7 Wall St. Price Target

2026

$360.19

2027

$540

2028

$780

2029

$1,080

2030

$1,399.78

These projections assume Coinbase continues executing on its Everything Exchange strategy and stablecoin scaling. Significant upside or downside could result from a full crypto cycle turn, tokenized RWA adoption, or a regulatory reversal.

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Contact editorial@247wallst.com for any questions or corrections.