Wall Street analysts are increasingly bullish on Coinbase (COIN) stock, viewing its current valuation as a prime buying opportunity despite recent crypto market corrections. Multiple firms have issued "buy" ratings, projecting significant upside potential based on Coinbase's strategic expansion and leadership in emerging market trends.
Analyst Confidence Fuels Bullish Outlook
Bank of America (BofA) recently upgraded Coinbase's stock from "neutral" to "buy," deeming it "grossly undervalued" at its current $245 level. BofA projects a 40% upside potential to a $340 price target, citing Coinbase's aggressive push towards becoming an "everything exchange." Analyst Jason Kupferberg highlighted new product offerings, including prediction markets and traditional stock/ETF trading, alongside the monetization of Base and the launch of Coinbase Tokenize. These initiatives are seen as expanding Coinbase's total addressable market (TAM) and solidifying its position as the leading, trusted platform in the U.S. crypto space, making it an ideal partner for traditional finance. This follows a similar bullish rating from Bernstein analysts, who foresee an even greater 72% upside to $440.
Capitalizing on the Tokenization Supercycle
A major catalyst underpinning this optimistic outlook is the impending "tokenization supercycle." Analysts view the tokenization boom as a defining theme for the crypto industry, particularly in 2026, as regulators increasingly direct U.S. capital markets to move on-chain. Tokenized stocks and ETFs, already a strategic priority for Coinbase and other major exchanges, have built strong momentum and are poised for exponential growth. While currently valued at around $1 billion, this market segment is expected to surge significantly once clearer regulatory frameworks are established. Coinbase, with its robust platform and market share, is strategically positioned to lead and benefit immensely from this transformative shift in capital markets.
