<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="635" height="400" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg"/></p>
<p><em>图片来源：Shutterstock</em></p>
<h3><strong>关键要点</strong></h3>
<ul>
<li>Coinbase 正在推进其集中式 DeFi 集成并扩大机构合作关系。</li>
<li>公司在 2025 年完成了九项收购，并通过对 CoinDCX 的投资重新进入印度市场。</li>
<li>Coinbase 计划在 2026 年通过 RWA 永续合约、DeFi 基础设施和 AI 驱动的交易创新来引领市场。</li>
</ul>
<p>Coinbase Global (COIN - 免费报告) 正在为强劲的 2026 年做好准备，利用 2025 年的活跃势头，同时执行其长期战略路线图。今年，Coinbase 通过推出 Solana 访问的 DEX 交易，推进了集中式和去中心化生态系统的整合，这是将其核心平台与链上流动性连接的重要一步，并支持其统一集中式–DeFi 体验的愿景。</p>
<p>Coinbase 还继续加强传统金融与数字资产之间的联系。该公司与包括摩根大通、花旗和 PNC 在内的主要银行合作，并与美国领先的金融机构就涉及稳定币、托管和交易的试点项目进行讨论。</p>
<p>有利的监管环境和对数字资产作为银行服务的日益接受似乎成为了助力。值得注意的是，PNC 银行最近为其高净值私人客户启用了直接比特币交易，突显了这种情绪的转变。</p>
<p>并购也是一个关注领域，Coinbase 在 2025 年完成了九项收购，以扩展能力并加速产品开发。国际增长仍然是一个优先事项。Coinbase 在近三年后重新进入印度市场，得益于对 CoinDCX 的投资，后者是印度和中东地区领先的交易所。</p>
<p>展望 2026 年，Coinbase 的战略重点领域包括真实世界资产 (RWA) 永续合约、专业交易所和交易终端、下一代 DeFi 基础设施，以及 AI 和机器人技术的整合。通过这些举措，Coinbase 旨在建立一个全面的产品和服务生态系统，并巩固其作为行业首屈一指的 “全能交易所” 的地位。</p>
<h3><strong>同行情况如何？</strong></h3>
<p>Robinhood Markets (HOOD - 免费报告) 一直专注于通过快速的产品创新和全球扩张来加速增长。Robinhood 一直在进行机会性收购，以加深其在美国及全球的足迹和产品覆盖。</p>
<p>Robinhood 还指出，AI 功能和快速推出正在增加用户参与度、优质货币化和客户留存，而更强大的工具吸引了零售和高级交易者。</p>
<p>Interactive Brokers (IBKR - 免费报告) 继续在台湾、墨西哥和印度等新兴市场探索增长机会。鉴于其欧洲业务的快速增长，Interactive Brokers 在那里大幅扩展了其运营。此外，Interactive Brokers 还采取了多项措施以增强其全球存在。</p>
<h3><strong>Coinbase 的价格表现</strong></h3>
<p>Coinbase 股票年初至今上涨了 10.7%，表现优于行业。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg/query-dj02OTY4MDY1MTc?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="291" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg/query-dj02OTY4MDY1MTc"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<h3><strong>Coinbase 的高估值</strong></h3>
<p>Coinbase 股票最近的市盈率为 44.93，显著高于行业平均水平 24.32。它的价值评分为 D。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg/query-dj01ODQwOTc0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="165" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg/query-dj01ODQwOTc0"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<h3><strong>Coinbase 的预估</strong></h3>
<p>Zacks 共识预估显示，Coinbase 2025 年第四季度的每股收益预估在过去七天内下调了 2 美分，而 2026 年第一季度的预估在过去七天内没有修订。2025 年和 2026 年的每股收益共识预估在过去七天内分别下调了 0.6% 和 1%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg/query-dj0yMTE5OTYwMzQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="620" height="171" original-src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg/query-dj0yMTE5OTYwMzQ"/></p>
<p><em>图片来源：Zacks 投资研究</em></p>
<p>Coinbase 2025 年和 2026 年的收入共识预估显示出同比增长。尽管公司 2025 年的每股收益共识预估显示出同比增长，但 2026 年的预估则显示出下降。</p>
<p>Coinbase 股票目前的 Zacks 排名为 #3（持有）。</p>
<hr/>
<p><em>更多来自此作者的内容：</em></p>
<p>埃森哲第一季度财报预览：现在买入还是等待结果？</p>
<p>AT&amp;T 与 Comcast：你应该押注哪只电信股票？</p>
<p>Lululemon 股票在强劲的第三季度业绩后会继续反弹吗？</p>

COIN

2 倍做多 COIN ETF - GraniteShares

南方两倍做空Coinbase

<p>Coinbase 正在为强劲的 2026 年做好准备，通过推进去中心化金融（DeFi）整合、扩大机构合作伙伴关系，并在 2025 年完成九项收购。该公司正通过对 CoinDCX 的投资重新进入印度市场，并旨在在真实资产（RWA）永续合约、DeFi 基础设施和人工智能驱动的交易领域领先。尽管估值较高，Coinbase 的股票年初至今已上涨 10.7%。Zacks 共识预估显示 2025 年和 2026 年的每股收益（EPS）前景混合，Zacks 排名为 #3（持有）</p>

<p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/main/b3/4101.jpg"/></p>
<p><em>Image: Shutterstock</em></p>
<div class="lb-trans"><p><em>图片来源：Shutterstock</em></p>
</div><h3><strong>Key Takeaways</strong></h3>
<div class="lb-trans"><h3><strong>关键要点</strong></h3>
</div><ul>
<li>Coinbase is advancing its centralized DeFi integration and expanding institutional partnerships.</li>
<li>The company completed nine acquisitions in 2025, and it is re-entering India via investment in CoinDCX.</li>
<li>Coinbase aims to lead with RWA perpetuals, DeFi infrastructure, and AI-driven trading innovations in 2026.</li>
</ul>
<div class="lb-trans"><ul>
<li>Coinbase 正在推进其集中式 DeFi 集成并扩大机构合作关系。</li>
<li>公司在 2025 年完成了九项收购，并通过对 CoinDCX 的投资重新进入印度市场。</li>
<li>Coinbase 计划在 2026 年通过 RWA 永续合约、DeFi 基础设施和 AI 驱动的交易创新来引领市场。</li>
</ul>
</div><p>Coinbase Global (COIN - Free Report) is poised for a strong 2026 as it builds on the momentum of an active 2025 while executing on its long-term strategic roadmap. This year, Coinbase advanced its efforts to integrate centralized and decentralized ecosystems by launching DEX trading for Solana access—an important step toward linking its core platform with on-chain liquidity and supporting its vision of a unified centralized–DeFi experience.</p>
<div class="lb-trans"><p>Coinbase Global (COIN - 免费报告) 正在为强劲的 2026 年做好准备，利用 2025 年的活跃势头，同时执行其长期战略路线图。今年，Coinbase 通过推出 Solana 访问的 DEX 交易，推进了集中式和去中心化生态系统的整合，这是将其核心平台与链上流动性连接的重要一步，并支持其统一集中式–DeFi 体验的愿景。</p>
</div><p>Coinbase also continued strengthening ties between traditional finance and digital assets. The company has collaborated with major banks, including JPMorgan, Citi, and PNC, and is in discussions with leading U.S. financial institutions on pilot programs involving stablecoins, custody, and trading.</p>
<div class="lb-trans"><p>Coinbase 还继续加强传统金融与数字资产之间的联系。该公司与包括摩根大通、花旗和 PNC 在内的主要银行合作，并与美国领先的金融机构就涉及稳定币、托管和交易的试点项目进行讨论。</p>
</div><p>A favorable regulatory climate and growing acceptance of digital assets as banking services seems to work as a tailwind. Notably, PNC Bank recently enabled direct Bitcoin trading for its high-net-worth private clients, underscoring this shift in sentiment.</p>
<div class="lb-trans"><p>有利的监管环境和对数字资产作为银行服务的日益接受似乎成为了助力。值得注意的是，PNC 银行最近为其高净值私人客户启用了直接比特币交易，突显了这种情绪的转变。</p>
</div><p>M&amp;A has been another area of focus, with Coinbase completing nine acquisitions in 2025 as it expands capabilities and accelerates product development. International growth remains a priority as well. Coinbase is re-entering India’s market after nearly three years, supported by an investment in CoinDCX, a leading exchange across India and the Middle East.</p>
<div class="lb-trans"><p>并购也是一个关注领域，Coinbase 在 2025 年完成了九项收购，以扩展能力并加速产品开发。国际增长仍然是一个优先事项。Coinbase 在近三年后重新进入印度市场，得益于对 CoinDCX 的投资，后者是印度和中东地区领先的交易所。</p>
</div><p>Looking ahead to 2026, Coinbase’s strategic focus areas include real-world asset (RWA) perpetuals, specialized exchanges and trading terminals, next-generation DeFi infrastructure, and the integration of AI and robotics. With these initiatives, Coinbase aims to build a comprehensive product and service ecosystem and solidify its position as the industry’s premier “everything exchange.”</p>
<div class="lb-trans"><p>展望 2026 年，Coinbase 的战略重点领域包括真实世界资产 (RWA) 永续合约、专业交易所和交易终端、下一代 DeFi 基础设施，以及 AI 和机器人技术的整合。通过这些举措，Coinbase 旨在建立一个全面的产品和服务生态系统，并巩固其作为行业首屈一指的 “全能交易所” 的地位。</p>
</div><h3><strong>What About its Peers?</strong></h3>
<div class="lb-trans"><h3><strong>同行情况如何？</strong></h3>
</div><p>Robinhood Markets (HOOD - Free Report) has stayed focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally.</p>
<div class="lb-trans"><p>Robinhood Markets (HOOD - 免费报告) 一直专注于通过快速的产品创新和全球扩张来加速增长。Robinhood 一直在进行机会性收购，以加深其在美国及全球的足迹和产品覆盖。</p>
</div><p>Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization, and retention, while stronger tools attract both retail and advanced traders.</p>
<div class="lb-trans"><p>Robinhood 还指出，AI 功能和快速推出正在增加用户参与度、优质货币化和客户留存，而更强大的工具吸引了零售和高级交易者。</p>
</div><p>Interactive Brokers (IBKR - Free Report) has continued to explore growth opportunities in the emerging markets of Taiwan, Mexico, and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Additionally, Interactive Brokers has been undertaking several measures to enhance its global presence.</p>
<div class="lb-trans"><p>Interactive Brokers (IBKR - 免费报告) 继续在台湾、墨西哥和印度等新兴市场探索增长机会。鉴于其欧洲业务的快速增长，Interactive Brokers 在那里大幅扩展了其运营。此外，Interactive Brokers 还采取了多项措施以增强其全球存在。</p>
</div><h3><strong>Coinbase’s Price Performance</strong></h3>
<div class="lb-trans"><h3><strong>Coinbase 的价格表现</strong></h3>
</div><p>Shares of Coinbase stock have gained 10.7% year-to-date, outperforming the industry.</p>
<div class="lb-trans"><p>Coinbase 股票年初至今上涨了 10.7%，表现优于行业。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg/query-dj02OTY4MDY1MTc" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/18/135657.jpg?v=696806517"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><h3><strong>Coinbase’s Expensive Valuation</strong></h3>
<div class="lb-trans"><h3><strong>Coinbase 的高估值</strong></h3>
</div><p>Coinbase stock has recently been trading at a price-to-earnings value ratio of 44.93, which is significantly above the industry average of 24.32. It carries a Value Score of D.</p>
<div class="lb-trans"><p>Coinbase 股票最近的市盈率为 44.93，显著高于行业平均水平 24.32。它的价值评分为 D。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg/query-dj01ODQwOTc0" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/aa/135658.jpg?v=5840974"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><h3><strong>Estimates for Coinbase</strong></h3>
<div class="lb-trans"><h3><strong>Coinbase 的预估</strong></h3>
</div><p>The Zacks Consensus Estimate for Coinbase’s fourth-quarter 2025 EPS has moved 2 cents south in the past seven days, while the same for first-quarter 2026 has witnessed no revision in the past seven days. The consensus estimates for 2025 and 2026 EPS have moved south by 0.6% and 1%, respectively, in the past seven days.</p>
<div class="lb-trans"><p>Zacks 共识预估显示，Coinbase 2025 年第四季度的每股收益预估在过去七天内下调了 2 美分，而 2026 年第一季度的预估在过去七天内没有修订。2025 年和 2026 年的每股收益共识预估在过去七天内分别下调了 0.6% 和 1%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg/query-dj0yMTE5OTYwMzQ" alt="" original-src="https://staticx-tuner.zacks.com/images/articles/charts/1d/136662.jpg?v=211996034"/></p>
<p><em>Image Source: Zacks Investment Research</em></p>
<div class="lb-trans"><p><em>图片来源：Zacks 投资研究</em></p>
</div><p>The consensus estimates for Coinbase’s 2025 and 2026 revenues appear to indicate year-over-year increases. Though the consensus estimate for the company’s 2025 EPS indicates a year-over-year increase, the same for 2026 indicates a decline.</p>
<div class="lb-trans"><p>Coinbase 2025 年和 2026 年的收入共识预估显示出同比增长。尽管公司 2025 年的每股收益共识预估显示出同比增长，但 2026 年的预估则显示出下降。</p>
</div><p>Coinbase stock currently carries a Zacks Rank #3 (Hold) rating.</p>
<div class="lb-trans"><p>Coinbase 股票目前的 Zacks 排名为 #3（持有）。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多来自此作者的内容：</em></p>
</div><p>Accenture Q1 Earnings Preview: Buy Now Or Wait For The Results?</p>
<div class="lb-trans"><p>埃森哲第一季度财报预览：现在买入还是等待结果？</p>
</div><p>AT&amp;T Versus Comcast: Which Telecom Stock Should You Bet On?</p>
<div class="lb-trans"><p>AT&amp;T 与 Comcast：你应该押注哪只电信股票？</p>
</div><p>Will Lululemon Stock Keep Rebounding After Strong Q3 Results?</p>
<div class="lb-trans"><p>Lululemon 股票在强劲的第三季度业绩后会继续反弹吗？</p>
</div>

Is Coinbase Setting The Stage For A Strong And Strategic 2026?

- Coinbase 在 2025 年完成九项收购，重返印度市场投资 CoinDCX。  
- 公司计划在 2026 年专注于 RWA 永续合约和 DeFi 基础设施。  
- Coinbase 股票年初至今上涨 10.7%，但市盈率高于行业平均水平。  

Coinbase 是否正在为一个强劲且具有战略意义的 2026 年奠定基础？