Bernstein maintains a Buy rating with a $330 price target for Coinbase, implying nearly 77% upside from the current trading price of around $186 to $190. The company reported disappointing Q2 2026 results with revenue of $1.22 billion, falling below analyst expectations. Of the 34 analysts covering the stock, 18 to 22 maintained Buy or Outperform ratings after the results, with the consensus price target ranging from $195 to $218. The bullish case hinges on revenue diversification into subscriptions, stablecoin services, and derivatives, which are less dependent on crypto market volatility. Investors should monitor recurring revenue growth rates, stablecoin revenue as a percentage of total revenue, and changes in institutional client numbers.
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