'Rapidly Evolving': Benchmark Analyst Bullish on Coinbase After Stocks, Options Moves

Coinbase held an lawsuit Tuesday to showcase an array of incoming merchandise additions, including tokenized equities trading and the offering of options trading for some crypto and stocks alike, and 1 salient expert sees important upside successful the crypto speech arsenic it broadens its horizons adjacent further beyond crypto trading.

On Wednesday, Benchmark-StoneX Managing Director and Senior Research Analyst Mark Palmer said the steadfast is reiterating its COIN terms people of $270—a astir 60% summation implicit Tuesday's closing terms supra $169.

"The ambition connected show was sweeping capable to enactment each brokerage, bank, and fintech successful the state connected notice," Palmer wrote. "The institution unveiled a suite of products spanning stocks, derivatives, artificial intelligence, and user finance, extending the strategy it archetypal announced past December and pushing the level good beyond crypto into each plus people it tin reach."

Coinbase utilized its Tuesday lawsuit to unveil respective caller products arsenic it pushes to go an "everything exchange." The biggest uncover was upcoming tokenized U.S. equities, which Coinbase says volition correspond existent 1:1-backed shares with automatic dividend payouts, dissimilar rival tokenized banal products it characterizes arsenic derivatives.

The institution besides plans to motorboat options trading for some crypto and accepted equities, and volition fto users transportation existing banal portfolios onto its platform. Additional updates see the quality to get against staked Solana, a Coinbase One Card question portal offering 5% Bitcoin rewards, USDC-backed paper access, and caller short-term crypto price-prediction contracts.

"In our view, the company's update yesterday provided the clearest grounds yet that it is rapidly evolving from a cyclical crypto brokerage into a foundational infrastructure level linking the emerging on-chain system to the accepted one," Palmer added.

Coinbase Gears Up to Launch Tokenized Stock Trading, Crypto and Equities Options

COIN is astir level connected the day, precocious trading conscionable supra $169 per Yahoo Finance. Shares are down 13% successful the past period and 25% since the commencement of the twelvemonth arsenic crypto markets decline.

In May, Coinbase announced that it would chopped 14% of its unit and trust much connected AI to boost ratio with a smaller team. The steadfast besides reported a 2nd consecutive quarterly nonaccomplishment of $394 cardinal for Q1 2026.