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Research Alert: CFRA Maintains Strong Buy Rating On Shares Of Coinbase Global, Inc.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month target at $235 on EV/sales of 7.1x our 2027 sales estimate and 17.8x 2027 EBITDA. We decrease our 2026 EPS estimate by $1.93 to $1.41 and lower 2027's by $2.04 to $5.75. Despite a volatile Q1 for the broader crypto market, COIN was able to deliver retail derivatives ($200M run-rate) and newly launched prediction market ($100M run-rate) revenue growth above our estimates. Management believes the CLARITY Act is likely to pass this summer and we see this creating tailwinds for further stablecoin growth, but note COIN may face fee compression as new entrants begin entering the stablecoin market. COIN is proactively reducing both headcount and expenses in 2H 2026 during what we have anticipated will be a weak year for BTC and ETH after selling off in Q4 2025. Our 2027 outlook continues to see EBITDA margin expansion with subscription and services revenue growing faster than transaction-based revenue streams, creating a stronger/less volatile revenue mix in the long term.

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