Coinbase Outlook Boosted: Benchmark Raises Price Target to $421 and Reaffirms Buy Rating
In its latest research report, broker Benchmark has raised the outlook on the stock performance of the crypto exchange, Coinbase Global (Nasdaq: COIN). The broker boosted the stock's price target from $300 to $421, a hike of 39.86%, and doubled down on its 'Buy' rating on COIN.
Founded in 2012, Coinbase is the largest crypto exchange in the U.S., and it went public on Nasdaq on April 14, 2021. The company even entered the coveted S&P 500 club on May 19, marking a pivotal moment for both the company and the broader crypto industry as it became the first crypto-focused company to join the list.
According to Benchmark's report, Coinbase is anticipated to grow on the back of the crypto market structure bill once it comes into law. The enactment of the CLARITY Act could lead to staking becoming more popular, which is a positive sign for Coinbase.
"The CLARITY Act seeks to establish a comprehensive regulatory framework for digital assets in the U.S. that could provide much-needed certainty around the U.S. government's treatment of crypto," wrote Benchmark analyst Mark Palmer.
While a dominant player in the U.S. crypto industry, Coinbase secured a Markets in Crypto Assets (MiCA) license from Luxembourg on June 20, allowing the company to offer its services across the 30 nations in the European Economic Area.
At press time, COIN was trading at $306.18, up more than 25% over the last five days.
This story was originally reported by TheStreet on June 23, 2025.
