Coinbase Stock Rises 8% After Goldman Sachs Upgrade

Goldman Sachs Upgrades Coinbase Stock

Coinbase stock rose by 8% on January 5 after Goldman Sachs upgraded it, citing growth in tokenization, crypto infrastructure, and prediction markets.
The stock closed at $254, marking a year-to-date gain of 10.56%.
Goldman Sachs set a price target of $303 for Coinbase, indicating a potential 34% increase from recent lows near $225.
The upgrade is attributed to Coinbase's expansion into new trading offerings, including US equities, derivatives, and enhanced banking services.
These new segments now contribute around 40% of Coinbase’s revenue, up significantly from less than 5% five years ago.

COIN Stock Trading on Its Own Platform

Coinbase has commenced trading its native COIN stock on its own platform.
CEO Brian Armstrong emphasizes the company's strategy to offer a unified platform for various financial products.
Beyond crypto trading, Coinbase aims to expand financial services with lower-rate loans, credit cards with rewards, and inexpensive global money transfers.
Armstrong argues that users seek integrated platforms combining investing, payments, and financial services, unlike traditional brokerage platforms focused mainly on stocks.