Citigroup sees 87% upside for surging tech stock originally appeared on TheStreet .
Citigroup, the global investment banking and financial services giant, recently hiked its price target for the Coinbase (Nasdaq: COIN) stock from $270 to $505.
Given the stock closed at $379.49 on July 28, Citigroup expects COIN to soar more than 30%.
Founded in 2012, Coinbase is the largest crypto trading exchange in the U.S. The company, which went public in April 2021, joined the S&P 500 list in May 2025.
The S&P 500 is a benchmark stock market index composed of large-cap tech companies. Coinbase is the only crypto stock on the much-coveted list, underlining the confidence investors have finally put in the digital assets industry.
Join the discussion with CryptoWendyO on Roundtable here.
Citigroup not only credits the S&P 500 inclusion but also the progress on key crypto bills such as the GENIUS and CLARITY Acts in the U.S. for raising COIN's price target.
The investment bank maintained a "Buy" rating on the stock.
Q2 earnings report soon
The crypto exchange reported $2 billion in total revenue and $66 million in net income in Q1 2025. The Q2 results are expected after market close on July 31.
Zacks, the investment research firm, said Coinbase is likely to have recorded a rise in trading volume in the second quarter due to increased asset volatility and improved cryptocurrency prices.
A higher share in the U.S. spot and derivatives markets, an expanded product portfolio, global market presence, and Deribit's acquisition , are also factors behind Coinbase's potential better performance, Zacks wrote.
"Coinbase's Earnings ESP is +12.05%." It means Zacks expects the company to beat Wall Street's earnings forecast by around 12%.
Citigroup sees 87% upside for surging tech stock first appeared on TheStreet on Jul 29, 2025
This story was originally reported by TheStreet on Jul 29, 2025, where it first appeared.
