Coinbase stock is a ‘buy’ and could hit $350

HC Wainwright analysts have increased their price for Coinbase at $ 350 following a solid report on the profits of the fourth quarter, citing the company’s market share and the upper management prospects.

Coinbase declared $ 2.27 billion in revenues for the fourth quarter of 2024, marking an increase of 88% one quarter to another and an increase of 138% of one year over the other. The results have exceeded Wall Street estimates of around $ 1.8 billion, according to a note as an analyst shared with crypto.news.

CEO Brian Armstrong describe The current market environment as “a golden age for crypto”, stressing that the increase in post-electoral regulatory clarity was a key engine of industry growth.

Negotiation volumes increased by 132% over a quarter to $ 439 billion, the retail negotiation volume, jumping from 176% to 94 billion dollars and the volume of institutional negotiations increasing from $ 345 billion to $ 345 billion.

HC Wainwright analyst Mike Colonnaise argued that the company was well placed to take advantage of favorable trends, and despite a gain of almost 75% in the past year, the stock is still undervalued compared to to his good evaluation.

“Everything said, we remain buyers here and increase our price target to $ 350, against $ 330,” said the ticket.

The analyst’s price objective is based on 11.5 times the multiple EV / Return applied to its 2025 income estimate which was lifted from $ 7.34 billion to $ 8.4 billion.

New customers and profitable subscriptions

The monthly users of the company increased from 24% to 9.7 million, half of its new commercial customers or reactivated after more than a year of dormancy.

Subscription and services income have also exceeded expectations, at $ 641.1 million, supplied by blockchain rewards and an increase in Coinbase One subscriptions.

For the first quarter of 2025, Jamming provides subscription and service income between $ 685 million and $ 765 million, exceeding consensual estimates of $ 648 million. The company also provides continuous force in USDC and higher marketing expenses.

Analysts believe that Coinbase is positioned to benefit from the evolution of the regulatory landscape and the increase in the adoption of cryptography, providing for income growth from 28% in 2025 to 8.4 billion dollars.

Coinbase shares have been negotiated for the last time at $ 276.50 on the NASDAQ.