In addition to recent regulatory tailwinds, investors rushed to buy Coinbase after a Wednesday report from Bernstein, a global equity and research brokerage firm, in which analyst Gautam Chhugani lifted the stock’s price target by the end of 2027 from $310 to $510, a 65% increase. Price targets are projections of a stock’s future price made by financial analysts that often shape investors’ expectations and influence market sentiment.
Chhugani called Coinbase “the most misunderstood company in our Crypto coverage universe,” saying that investors have not taken advantage of the company’s position as the preeminent crypto stock on the market.
While acknowledging that Coinbase’s large stablecoin business will be a beneficiary of the GENIUS act, Chhugani also stated that the company could profit from another upcoming piece of legislation. The CLARITY act, introduced in the House of Representatives in May, focuses on solidifying the role of government agencies like the Securities and Exchange Commission in regulating cryptocurrencies.
While these positive developments for Coinbase have already lifted its stock by double-digits, Devin Ryan, an analyst at Citizens Bank, believes there is more room to grow.
