Overview
- Goldman raised Coinbase to Buy with a 12‑month price target of $303, highlighting December launches in prediction markets via Kalshi, U.S. equities trading, tokenization and other services.
- The bank projects roughly 12% annual revenue growth for Coinbase through 2027 and notes subscriptions and services are about 40% of revenue, helping temper earnings volatility.
- Coinbase shares jumped about 8% on Monday to close near $254.92 after the upgrade, with the move reinforced by firmer crypto prices.
- eToro was downgraded to Neutral with a $39 target as intensifying competition lifts customer acquisition costs and pressures pricing, challenging U.S. expansion plans and margins.
- Goldman said it is selectively constructive on brokers, maintaining Buy ratings on Robinhood, Interactive Brokers and Figure while flagging regulatory outcomes and margin pressure as key risks.