Coinbase price target raised to $258 by Morgan Stanley

Morgan Stanley has raised its price target for Coinbase from $250 to $258, while maintaining an ‘Equal Weight’ rating. This adjustment comes ahead of earnings and follows a period where Coinbase reported second-quarter revenue of $1.22 billion, an 18.5% decrease from the previous year.

In a broader sector preview, Morgan Stanley also increased its price target for Robinhood from $150 to $160, maintaining an ‘Overweight’ rating. Meanwhile, Barclays raised its target for MicroStrategy (Strategy) to $175 from $160, citing resilient consumer demand and strong sector fundamentals.

Other analysts provided differing outlooks. Citizens JMP lowered its Coinbase price target from $325 to $280 but kept a ‘Market Outperform’ rating, noting that the company still requires execution to expand beyond cryptocurrency trading. Despite the reduction, Citizens JMP’s forecast remains higher than Morgan Stanley’s.