Benchmark-StoneX reiterated a $270 price target for Coinbase (COIN) on Wednesday, representing a nearly 60% increase over Tuesday's closing price above $169, following a company event where Coinbase unveiled an array of future products and features. Managing Director and Senior Research Analyst Mark Palmer stated the firm is maintaining its bullish projection as Coinbase expands beyond crypto trading. The price target follows Coinbase's Tuesday showcase of incoming additions including tokenized equities trading and options for both crypto and stocks, part of the company's strategy to become an "everything exchange."
Benchmark-StoneX Reiterates $270 Coinbase Price Target
On Wednesday, Benchmark-StoneX Managing Director and Senior Research Analyst Mark Palmer said the firm is reiterating its COIN price target of $270—a nearly 60% increase over Tuesday's closing price above $169. "The ambition on display was sweeping enough to put every brokerage, bank, and fintech in the country on notice," Palmer wrote. "The company unveiled a suite of products spanning stocks, derivatives, artificial intelligence, and consumer finance, extending the strategy it first announced last December and pushing the platform well beyond crypto into every asset class it can reach." Palmer added that "the company's update yesterday provided the clearest evidence yet that it is rapidly evolving from a cyclical crypto brokerage into a foundational infrastructure platform linking the emerging on-chain economy to the traditional one."
Coinbase Unveils Tokenized Equities and Options Trading
Coinbase used its Tuesday event to unveil several new products as it pushes to become an "everything exchange." The biggest reveal was upcoming tokenized U.S. equities, which Coinbase says will represent real 1:1-backed shares with automatic dividend payouts, unlike rival tokenized stock products it characterizes as derivatives. The company also plans to launch options trading for both crypto and traditional equities, and will let users transfer existing stock portfolios onto its platform. Additional updates include the ability to borrow against staked Solana, a Coinbase One Card travel portal offering 5% Bitcoin rewards, USDC-backed card access, and new short-term crypto price-prediction contracts.
Coinbase Stock Down 25% Year-to-Date Amid Market Decline
COIN is roughly flat on the day, recently trading just above $169 per Yahoo Finance. Shares are down 13% in the last month and 25% since the start of the year as crypto markets decline. In May, Coinbase announced that it would cut 14% of its staff and rely more on AI to boost efficiency with a smaller team. The firm also reported a second consecutive quarterly loss of $394 million for Q1 2026.
FAQ
What price target did Benchmark-StoneX set for Coinbase on Wednesday?
Benchmark-StoneX reiterated a $270 price target for Coinbase (COIN) on Wednesday, representing a nearly 60% increase over Tuesday's closing price above $169.
What new products did Coinbase announce at its Tuesday event?
Coinbase unveiled upcoming tokenized U.S. equities representing real 1:1-backed shares with automatic dividend payouts, options trading for both crypto and traditional equities, the ability to transfer existing stock portfolios onto its platform, borrowing against staked Solana, a Coinbase One Card travel portal offering 5% Bitcoin rewards, USDC-backed card access, and new short-term crypto price-prediction contracts.
How has Coinbase stock performed recently?
COIN is roughly flat on the day, recently trading just above $169. Shares are down 13% in the last month and 25% since the start of the year as crypto markets decline.
