Coinbase Shares Jump 8% After Goldman Sachs Upgrades Stock to Buy

Highlights:

• Coinbase shares have jumped after Goldman Sachs upgraded the stock and lifted its price target.
• Coinbase is reducing reliance on trading by expanding stablecoin infrastructure services and prediction markets.
• Goldman expects wider crypto adoption by 2026 but warns regulatory delays could slow sector growth.

Goldman Sachs upgraded Coinbase crypto exchange’s stock, COIN, from neutral to buy in a client note released Monday. The bank also raised its twelve-month price target of COIN to $303 from $294. Coinbase closed near $254.92 with muted after-hours movement. At that level, the revised target implies about 18% upside. The upgrade drew immediate attention across U.S. equity markets.

Coinbase Rally Coinbase stock jumps 8% after Goldman Sachs upgrades to buy, highlighting growth in crypto infrastructure, tokenization, and prediction markets (Goldman Sachs). This upgrade signals growing institutional confidence in crypto’s expanding ecosystem beyond just…

— Muhammad Azhar (@Azharthegreat) January 6, 2026

Analyst James Yaro said the bank holds selective optimism toward U.S. crypto-linked firms. He described these companies as part of a structurally growing crypto infrastructure. Yaro placed Coinbase among the most established operators in that group. He focused on firms that generate revenue beyond one activity. Therefore, the upgrade reflects a longer-term valuation stance.

Goldman linked its view to improving expectations around market participation. Analysts expect gradual increases from institutional investors. Regulatory clarity remains central to that outlook. As a result, Coinbase returned to focus on large-cap crypto equities.

Yaro also pointed out risk considerations based on the timing of policies. He said delayed legislation could slow adoption momentum. Still, the bank expects structural demand to persist. That demand supports infrastructure providers over market cycles.

Coinbase Shares Jump as Revenue Mix Shifts Beyond Trading

Coinbase continues to reduce reliance on spot trading revenue, according to Goldman. The company has expanded into infrastructure services and tokenization tools. It has also entered prediction markets as a newer revenue line. These segments may offset swings in trading volumes. Analysts see improved earnings stability as a result of the moves.

Chief executive Brian Armstrong recently outlined plans to build an everything exchange. He said the strategy prioritizes stablecoins and broader exchange services. Armstrong also emphasized scaling the Ethereum layer-two network, Base. The management plans to push these initiatives through 2026. The firm sees sustained demand across multiple crypto services.

Here are our top priorities for 2026 at Coinbase:

1) Grow the everything exchange globally (crypto, equities, prediction markets, commodities – across spot, futures, and options)

2) Scale stablecoins and payments

3) Bring the world onchain through @CoinbaseDev, @base chain,…

— Brian Armstrong (@brian_armstrong) January 1, 2026

Coinbase partnered with prediction market Kalshi earlier this year to become an integrated entity. The integration enables users to access controlled event-based contracts. Goldman considers this area to be strategic as it encourages participation with users outside of trading. Goldman explained that diversified revenue companies might perform better when markets mature. Coinbase satisfies that description with platform and infrastructure solutions.

Singapore Business Expansion Adds Context to 2026 Outlook

Coinbase has expanded internationally with a business platform launch in Singapore. The company rolled out Coinbase Business as its first overseas release. The platform targets startups and small firms managing digital assets. It offers instant USDC payments and global transfers. Automated accounting tools support daily operations.

The launch builds on collaboration with the Monetary Authority of Singapore. The effort operates under the BLOOM Initiative framework. Standard Chartered will provide real-time local banking rails. This arrangement facilitates cross-border payment flows in a compliant manner.

Goldman is not only thinking about the near-term performance of the company. Yaro anticipates that retail and institutional adoption of crypto will expand in 2026. He linked that view to potential regulatory progress in the United States. However, he warned that stalled legislation could slow momentum.