Coinbase: Bullish Outlook Post-S&P 500 Inclusion

Coinbase (COIN) is riding high after its inclusion in the S&P 500 index. Analysts at Cantor Fitzgerald are showing confidence in the crypto exchange's future, raising their 12-month price target by 15% from $253 to $292.

Key Takeaways

• Price Target Increase: Cantor Fitzgerald increased its price target for Coinbase to $292.
• S&P 500 Inclusion: Coinbase is the first crypto company to be added to the S&P 500.
• Long-Term Growth: Analysts predict growth in Coinbase's market share driven by trading and new product offerings.
• New Initiatives: The company launched the Coinbase One Card and a partnership with Shopify for USDC payments.

Analyst Rationale

While Cantor Fitzgerald analysts slightly lowered revenue estimates for Coinbase by nearly 4%, they maintain an "overweight" rating on the stock. The firm believes that Coinbase's trading activities will continue to drive market share gains. They also anticipate that new products and services beyond trading will significantly impact how investors view COIN.

Analysts don't expect significant immediate revenue upside from new products, but a potential shift in investor perception is anticipated by the second half of 2026 and into 2027.

Recent Developments

Coinbase has been actively expanding its ecosystem. During its 2025 State of Crypto Summit, the company announced a partnership with Shopify to enable merchants to accept payments in USDC. The service is initially available to select Shopify merchants and will be rolled out globally. In addition, Coinbase launched the Coinbase One Card, offering users up to 4% in Bitcoin rewards on purchases.

Market Context

On June 13, 2025, COIN closed at $242.71 amidst broader market volatility stemming from geopolitical tensions. Despite market headwinds, the analyst upgrade suggests confidence in Coinbase's long-term prospects.