Bernstein analysts have reiterated a buy recommendation on Coinbase shares while holding a $330 price target following the company’s recent System Update event. The research firm sees the exchange’s expansion into new product lines as a catalyst for long-term growth, even though earlier forecasts had been trimmed from $440 due to broader market headwinds.
During the event, Coinbase introduced an SEC-registered AI investment advisor capable of accessing user portfolio histories and account data. Customers can interact with the advisor using natural language to receive personalized suggestions. Additionally, artificial intelligence agents from platforms like ChatGPT and Claude can now connect directly to Coinbase, allowing users to set trading rules and authorize automated executions.
Beyond AI, the company unveiled plans for tokenized stocks backed one-for-one by underlying shares, prediction markets, pre-IPO trading products tied to large private tech firms, and expanded derivatives access. These initiatives are part of Coinbase’s vision to create an “Everything Exchange” that blends crypto services with traditional financial market tools.
Coinbase stock traded higher on Wednesday, gaining about 1.6% to near $171.93 after closing at $169.27 in the prior session. The move came as investors weighed the Federal Reserve’s policy decision and interest rate outlook, with stronger-than-expected retail sales data suggesting rates could stay elevated for longer. Bitcoin briefly dipped below $65,000 ahead of the Fed announcement, adding some caution to the sector.
Analyst opinions on Coinbase remain split. Barclays reiterated an underweight rating with a $107 target, arguing that new offerings may not compensate for weaker crypto trading volumes if market activity stays subdued. On the other hand, Benchmark reaffirmed a buy rating with a $270 target, while Cantor Fitzgerald maintained an overweight rating and $250 target. Both firms view Coinbase’s product expansion as strengthening its competitive position, though they acknowledge ongoing cyclical risks from crypto price fluctuations.