Shares of Coinbase jumped 8% on Monday after Goldman Sachs upgraded the crypto exchange’s shares from “neutral” to “buy,” citing growing confidence in the company’s diversification strategy and long-term positioning within the digital assets ecosystem.
Key points to remember:
- Coinbase shares jumped 8% after Goldman Sachs upgraded COIN to “buy” and raised its 12-month price target to $303.
- Goldman believes Coinbase benefits from diversification beyond trading.
- The bank expects broader crypto adoption in 2026, supported by regulatory advancements.
In a note to clients, Goldman Sachs analyst James Yaro said the bank was showing “selective optimism” toward U.S. brokerages and firms operating in what he described as “a structurally growing crypto infrastructure,” singling out Coinbase as a major beneficiary of the trend.
Along with the upgrade, Goldman raised its 12-month price target for COIN from $294 to $303.
Coinbase closed the session up 8%, trading at $254.92 at the time of writing, with little after-hours movement. At current levels, Goldman’s revised target implies an upside of around 18%.
Yaro highlighted Coinbase’s efforts to expand beyond spot crypto trading, highlighting initiatives in infrastructure, tokenization and forecasting as potential growth drivers.
The analyst noted that companies capable of generating revenue across multiple segments of the crypto economy could be better positioned as the market matures.
Coinbase CEO Brian Armstrong recently reinforced this strategy, describing the company’s ambition to become an “exchange for everything.”
According to Armstrong, Coinbase plans to prioritize stablecoins, expand its exchange offerings, and continue to scale its layer 2 Ethereum network, Base, through 2026.
The company has already taken steps in this direction. Earlier this year, Coinbase integrated prediction markets into its platform through a partnership with Kalshi, with the aim of tapping into one of the fastest growing crypto sectors in 2024.
Goldman’s prospects extend beyond Coinbase. In its report, Yaro said the bank expects broader crypto adoption in 2026, driven by increased participation from retail and institutional investors.
He cited regulatory developments in the United States as a potential catalyst, including ongoing efforts to establish clearer rules for market structure.
“Our base case scenario includes further regulatory reform of cryptocurrencies, catalyzing broader adoption and use cases beyond trading, particularly among institutions,” Yaro wrote.
He added, however, that the failure to pass key legislation, including a crypto market structure bill in Congress, could pose a significant hurdle for the sector.
According to TipRanks data, Yaro has a 62% stock rating success rate, with an average annual return of almost 16%, giving added weight to the upgrade.
Coinbase launches trading platform in Singapore
As reported, Coinbase has launched Coinbase Business in Singapore, marking the crypto exchange’s first international rollout of its business-focused operating platform.
The move gives local startups and small businesses access to instant USDC payments, global transfers, automated accounting integrations, and a suite of tools designed for businesses that manage digital assets every day.
The debut builds on Coinbase’s collaboration with the Monetary Authority of Singapore under the BLOOM initiative, which focuses on improving compliance for cross-border digital payments.
The platform offers USDC-based global payments, lower-cost international transactions and an API for automated payroll and vendor management, all supported by real-time SGD banking rails through Standard Chartered.
Coinbase said the launch supports Singapore’s fast-growing innovation economy by offering a complete financial stack that blends fiat and crypto under clear regulatory standards.
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