Coinbase Stock Is Surging on Bitcoin Boom—New All-Time High Incoming?
COIN shares pumped to a three-year high this week as Bitcoin spikes following Trump's election win. Analysts weigh in on Coinbase's outlook.
Coinbase's (COIN) stock price surged to more than $330—a three-year-high—earlier this week amid a broader cryptocurrency and stock market boom fueled by President-elect Donald Trump's re-election.
The dizzying rally, which peaked on Monday, likewise catapulted MicroStrategy's (MSTR) stock to a record-high $351 per share, while Bitcoin topped out above $93,000, beating its previous pre-election peak by nearly $20,000. Meanwhile, COIN shares swelled to $334—not far off from the stock's all-time high price of $357 set in 2021.
The record-smashing week for digital assets and crypto-related stocks has raised a critical question for Coinbase's investors: Will COIN shares rally to a new all-time high?
Experts told Decrypt that a new peak price for COIN is certainly a possibility amid the crypto markets boom and optimism around friendlier U.S. regulation ahead, although it's still too early to tell. Meanwhile, Wall Street analysts on average forecast COIN shares will remain far below their all-time high within the next year.
COIN's average price target rests at $250.31 over a 12-month horizon, with a high forecast of $400 and a low forecast of $165, according to stock market research platform TipRanks. Nine analysts have marked COIN stock as a buy, while eight have advised holding the company's shares. Just one market expert recommends selling COIN.
The company's stock is trading at $293 at the time of writing, up 49% over the last month.
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