Cryptocurrency trading platform Coinbase Global (NASDAQ:COIN) is set to benefit from new products and a new White House administration, according to a new investor note.
The Coinbase Analyst: Rosenblatt analyst Chris Brendler reiterated a Buy rating on Coinbase with a $300 price target.
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The Analyst Takeaways: The cryptocurrency sector and Coinbase are set for nice growth potential in the future, Brendler said in a new investor note.
The analyst said Coinbase's new product launches "are just the beginning."
"With such a significant change in the political landscape, we continue to believe the benefits will be far greater than expected and think the current rally in crypto prices is just getting started," Brendler said.
With reduced regulatory pressure, Brendler sees Coinbase accelerating its product expansion beyond trading.
The analyst said a recent drop in Coinbase's share price comes with questions on trading volumes in the second quarter.
"Given the strong macro backdrop and regulatory tailwinds, we see this lull as a buying opportunity."
Brendler said Coinbase's recent Annual State of Crypto Summit highlighted the growth of stablecoins and on-chain trading with deeper integrations of traditional finance due to new product launches and partnerships.
"Combined with the dramatic shift in the political environment, we came away optimistic about the future of crypto."
Brendler highlights Coinbase's partnerships with Shopify Inc (NASDAQ:SHOP) for a USDC (CRYPTO: USDC) payments partnership and with American Express Co (NYSE:AXP) for a cobranded credit card with 4% Bitcoin (CRYPTO: BTC) rewards.
Coinbase also announced a new premium subscription tier called Coinbase One Basic.
"While we don't see a material impact from these initiatives soon, we expect COIN to accelerate new product development with the improving political landscape and with its leading scale/brand, we are optimistic about the longer run potential."
Brendler said Coinbase's trading volumes could rebound with improved regulatory clarity. The analyst also predicts that Coinbase will rely less on trading volume in the future with its product expansion.
"Despite the weaker near-term outlook, we're still bullish as COIN remains one of our favorite ideas."
COIN Price Action: Coinbase stock is up 6.27% to $257.85 on Monday versus a 52-week trading range of $142.58 to $349.75. Coinbase stock is down 0.7% year-to-date in 2025.
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Photo: Mehaniq via Shutterstock
