Citigroup Raises Coinbase Global (COIN) Price Target to $230

Citigroup has reaffirmed its Buy rating on Coinbase, setting a new price target of $230, a 30.95% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:09 PM EDT

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Citigroup raised its price target on Coinbase Global, Inc. ($COIN) to $230 from $210 on October 13, 2026, and rates the stock "Buy".

Since the rating, $COIN is down 4.8% to date (from the $181.79 close on Oct 13, 2026).

COIN Coinbase Global, Inc.

$173.16 -26.79% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, Citigroup reiterated its Buy rating on Coinbase Global, Inc. (COIN) with a price target of $230, up from $210.
Citigroup's $230 price target implies 30.95% upside from Coinbase Global, Inc.'s ($COIN) current $175.64 share price.
As of October 16, 2026, Coinbase shares were trading recently around $175.64, which is below their 50-day and 200-day moving averages.
The stock is currently below the average analyst price target of about $212.15, suggesting potential for growth if market conditions improve.

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Citigroup has reaffirmed its Buy rating on Coinbase Global, Inc. (COIN) on October 13, 2026, raising its price target to $230 from $210. This comes as the stock trades recently around $175.64, which is well below its key moving averages and the average analyst target price.

Citigroup's Call on Coinbase

Citigroup maintained its Buy rating for Coinbase and increased the price target to $230. The new target reflects a positive outlook on the company, despite the current trading price being significantly lower than the target. The stock is also below its 50-day moving average of $176.40 and its 200-day average of $182.86, indicating some challenges in price momentum.

Other Institutional Activity in Coinbase

Several institutional investors have also adjusted their positions in Coinbase. Blackrock Inc. reduced its stake by 35,166 shares, holding 16,710,783 shares valued at about $2.89 billion. Vanguard Capital Management LLC added 35,327 shares, bringing its total to 14,165,975 shares worth approximately $2.45 billion. State Street Corporation increased its holdings by 202,177 shares, totaling 9,562,203 shares valued at about $1.66 billion.

Coinbase Global, Inc. Stock Up 1.6%

Coinbase shares are currently trading at $175.64 as of October 16, 2026. This price is about 52.9% below its 52-week high of $373.25 and 26.3% above its 52-week low of $139.11. The stock's recent performance indicates it is below both its 50-day and 200-day moving averages, which could affect investor sentiment.

12-month forecast

$COIN price target

Coinbase Global, Inc. daily closes and this analyst's $230 target. Not advice.

Recent Earnings

Coinbase reported trailing twelve-month revenue of approximately $6.04 billion, but it has faced challenges with a revenue growth rate of -17.3% year-over-year. The company is expected to announce its next earnings report on October 29, 2026, which will provide further insights into its financial performance.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

F 21/100

Reported May 7, 2026

Forward outlook
7 target cuts vs 2 raises.
EPS & revenue
EPS missed estimates by 559.7%. Revenue missed estimates by 9.0%.
Profit surprise
EBITDA missed sharply. Operating income missed sharply.
Pre-earnings setup
Expectations were about average.
Analyst signal
2 target raises, 7 target cuts.
Earnings quality
Gross margin down 5.6 points. Operating margin down 33.7 points. Negative free cash flow.

Earnings Call Summary

Coinbase reported $1.4 billion in Q1 revenue, down 21 percent from Q4 due to a crypto market decline of over 20 percent. Despite tough conditions, the company reached an all-time high in crypto trading market share and posted its 12th straight quarter of native asset inflows. The Everything Exchange strategy is working, with derivatives generating $200 million annualized revenue and prediction markets hitting $100 million annualized revenue in just two months. Management emphasized strong fundamentals in stablecoins, with $19 billion in average USDC held and 10x growth in stablecoin transactions on the Base blockchain.

Guidance Coinbase expects subscription and services revenue between $565 million and $645 million in the next quarter, up from current levels. Operating expenses for Q2 are expected between $820 million and $870 million, down 4 to 9 percent from Q1. Full year adjusted expenses should come in between $4.3 billion and $4.6 billion, roughly $500 million lower than exit rates from late 2025.

Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.

Insider Buying and Selling at Coinbase Global, Inc.

Recent insider transactions at Coinbase include multiple sales by Director Marc L. Andreessen. On October 2, 2026, he sold 20,514 shares, with previous sales occurring on September 21 and September 8. These transactions did not indicate any new purchases.

Analysts Set New Price Targets

On October 13, 2026, Citigroup maintained its Buy rating on Coinbase with a new price target of $230. Other analysts have varied opinions, with Barclays maintaining an Underweight rating and a target of $149, while BTIG reiterated a Buy rating with a target of $240. The average target across analysts is about $212.15, suggesting a mix of optimism and caution in the market.

About Coinbase Global, Inc.

Coinbase Global, Inc. operates a platform for buying, selling, and managing cryptocurrency assets. Founded in 2012 and headquartered in New York, the company serves consumers and institutions, providing a primary financial account in the crypto economy. Its innovative products also allow developers to build on blockchain technology, which is essential for the growing digital economy.

Bottom Line

Investors should watch for Coinbase's upcoming earnings report on October 29, 2026, for more insights into its financial health. Citigroup's reaffirmation of a Buy rating and the updated price target suggest confidence in the company's long-term prospects, despite current market conditions.