Is Coinbase the ‘Amazon of crypto?’ COIN gets $510 target from Bernstein

• Bernstein revised its price target for a coin by 64% from $ 310 to $ 510.
• The research company quoted the growth of stablecoin and institutional cryptomos as key catalysts.

Coinbase [COIN] June 25 reached a six -month maximum of $ 369.28, increasing the profits of Q2 to more than 140%. Widespread momentum followed recently bull call Bernstein research company.

Bernstein analysts, led by Gautam Chhugani, have increased Coin price target by 64% of the previous goal 310 to $ 510, which states that Coinbase is

“The most misunderstood society.”

AND,

“Amazon Crypto Financial Services.”

“Most misunderstood shares” will get a new storyline

Bernstein analysts claimed that the power of Coinbase was underestimated across the album.

It is the only crypto firm in the S&P 500 and operates the largest company Stablecoin across the stock exchanges, which contributes almost 15% of total income.

“The institutional crypto (Powers Custodie for 8 of the 11 -bitcoin ETF asset managers) dominated, gaining the largest global exchange of crypt options (Deribit).”

In fact, analysts expect Coinbase to get massively from the Stablecoin account.

In addition, Coinbase ditch remains unrivaled in the institutional crypt, to Bernstein, which quotes operations in the binding of the company and the recent acquisition of debit options to exchange options.

However, Coinbase still operates the base, layer 2 (L2) Ethereum, which Bernstein analysts consider to be the foundation of the tokenization network for institutional clients, as seen in the last tests of JPMD JPMORGAN.

Bernstein’s award

In summary, these growth catalysts reported analysts twice the projection of earnings per share (EPS) in the next two years and 64% of the coin upwards.

“We are 2,2x consensus at 2025E EPS and 2.3x consensus by 2026E EPS. We present a deep diving primer to Coinbase. We also update the model and move our target price (PT 510 $, Outperform).”

They expect the total income of Coinbase to increase by the end of 2025 and by 2026 to $ 14.5 billion.

Growth would bE will strengthen the increase in business and non -traditional income flows such as stability and stablecoins. In the projections EPS analysts noted that

“Our modified EPS for 2025E (EX FV) increased to $ 11.26. For 2026e and 2027e, we modified our EPS estimates to ~ 17.92 in 2026E (by 22% vs. our previous estimate) and $ 20.38 in 2027E (28% of VS previous estimates).

However, Coinbase has downplayed any bear work and said that competition from Robinhood and other traditional brokers is still “months”.

At the time of printing, the COIN pre-market value was $ 357, indicating about 43% up if the target $ 510 is hit.

Measured from the April minimum, the coin increased over 140%, which exceeded some selection Crypto when recovery in Q2.