Benchmark updates Coinbase outlook with 40% hike, reiterates 'Buy' rating originally appeared on TheStreet .

Broker Benchmark raised the outlook on the stock performance of the crypto exchange, Coinbase Global (Nasdaq: COIN) , in its latest research report.

The broker boosted the stock's price target from $300 to $421, a hike of 39.86%. Not only that, it also doubled down on its 'Buy' rating on COIN.

Founded in 2012, Coinbase is the largest crypto exchange in the U.S. The company went public on Nasdaq on Apr. 14, 2021.

Coinbase even entered the much-coveted S&P 500 club on May 19.

For those unfamiliar, the S&P 500 is a stock market index that tracks the performance of the 500 largest public companies in the U.S. The inclusion of Coinbase in the index marked not only a pivotal moment for the company but also for the broader crypto industry because it is the first crypto-focused company to join the list.

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Coinbase is anticipated to grow on the back of the crypto market structure bill once it comes into law, the broker's report mentions.

The enactment of the CLARITY Act could lead to staking getting more popular which is a positive sign for Coinbase, the report adds.

Benchmark analyst Mark Palmer wrote:

"The CLARITY Act seeks to establish a comprehensive regulatory framework for digital assets in the U.S. that could provide much-needed certainty around the U.S. government’s treatment of crypto."

While a dominant player in the U.S. crypto industry, Coinbase  secured a Markets in Crypto Assets (MiCA) license from Luxembourg on June 20. The license allows the company to offer its services across the 30 nations in the European Economic Area.

At press time, COIN was trading at $306.18, up more than 25% over the last five days.

Benchmark updates Coinbase outlook with 40% hike, reiterates 'Buy' rating first appeared on TheStreet on Jun 23, 2025

This story was originally reported by TheStreet on Jun 23, 2025, where it first appeared.