Benchmark Raises Coinbase Price Target, Citing Benefits From U.S. Regulatory Progress

Benchmark has increased its price target for Coinbase (COIN) to $421 from $310, reaffirming its buy rating on the stock as U.S. crypto regulations show signs of progress.

In a research note published Monday, the brokerage said Coinbase is well positioned to benefit from the proposed crypto market structure bill introduced in the House of Representatives earlier this month.

Despite the positive outlook, Coinbase shares slipped 1.6% in early trading amid broader market weakness tied to escalating tensions in the Middle East.

Last week, Coinbase stock surged 23% after the bipartisan Senate passage of the stablecoin GENIUS Act and news that the exchange secured a MiCA license in Luxembourg, enabling it to offer crypto services throughout the European Economic Area’s 30 nations.

“The CLARITY Act aims to create a comprehensive regulatory framework for digital assets in the U.S., which could deliver much-needed certainty regarding how the government will treat crypto,” wrote Benchmark analyst Mark Palmer. He noted that regulatory clarity is a critical step for broader institutional adoption of crypto assets.

Benchmark’s report also highlighted that staking services could see significant growth if the CLARITY Act becomes law, providing another potential tailwind for Coinbase.