Coinbase stock climbs as analysts maintain support

Coinbase Global Inc shares rose 6.1% in morning trading Tuesday as investors returned to the regulated crypto exchange after a difficult period that brought the stock close to its 52-week low of $135.46.

Keefe, Bruyette & Woods maintained its Outperform rating on the stock Tuesday while adjusting its price target to $221 from $237. HC Wainwright released updated earnings projections Tuesday, forecasting that Coinbase will return to positive earnings per share in 2027.

The stock movement follows a $6.3 billion security breach at Binance disclosed in late October. Goldman Sachs stated that while the hack is broadly negative for crypto equities, well-regulated platforms like Coinbase stand to benefit as users and assets move away from the affected exchange.

ARK Invest purchased approximately $11 million worth of Coinbase shares following the breach.

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