Benchmark joins others in reiterating Buy rating on Coinbase stock despite lackluster Q1 earnings
The Block
Benchmark analysts reiterated a Buy rating on Coinbase, citing its transition into a foundational infrastructure platform for the onchain economy.Summary
Despite a disappointing Q1 2026 earnings report marked by a $394 million net loss and staff cuts, Benchmark analysts have raised their price target for Coinbase (COIN) to $270. The firm views Coinbase as evolving from a crypto brokerage into a core infrastructure provider for the "onchain economy." Analysts pointed to the company's record market share, growing ecosystem of monetized products, and the potential for favorable regulatory outcomes as long-term drivers for growth, noting that other firms like Bernstein also maintain a positive outlook despite some caution from competitors like Mizuho.
(Source：The Block)