Coinbase Is The 'Amazon Of Crypto Services', Price Target Boosted To $510: Bernstein
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Bernstein analysts have raised their price target for Coinbase Global Inc. (COIN) to $510 from $310, citing strong growth in derivatives and non-trading revenue. The new target reflects a price-to-earnings multiple of 25x based on 2027 earnings. Key drivers include increased revenue from staking and stablecoins, as well as a rise in derivatives volumes. Bernstein forecasts Coinbase's total revenue to reach $14.1 billion by 2027, with adjusted earnings per share estimated at $20.38. The report highlights Coinbase's market leadership and integrated services, likening it to the 'Amazon of crypto services.'
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