Mixed Analyst Calls Highlight Coinbase’s (COIN) Challenges and Opportunities

Coinbase Global Inc. (NASDAQ:COIN) is one of the best cryptocurrency stocks to buy for the long term. On November 20, Erste Group cut its rating on Coinbase Global Inc. (NASDAQ:COIN) from Buy to Hold, arguing that the growing popularity of low-fee Bitcoin ETFs could chip away at one of the company’s most important revenue sources. The firm warned that as more retail investors opt for ETF exposure rather than buying crypto directly, Coinbase risks losing a meaningful share of its higher-margin retail trading business.

Erste noted that Coinbase still holds a strong position as a major platform for both individual and institutional clients, but said the shift toward ETFs could swap out its most profitable revenues for lower-margin activity. Even if overall crypto adoption continues to rise, the firm cautioned, that change in mix could put real pressure on the company’s bottom line.

Earlier, on November 10, analysts at Monness Crespi upgraded Coinbase Global Inc. (NASDAQ:COIN) to a Buy from a Neutral. The analysts also settled on a $375 price target, while reiterating the company’s financial results for 2025 and slightly increasing their 2026 estimates.

Monness Crespi upgraded Coinbase, pointing to growing confidence in the company’s push to commercialize stablecoins through new partnerships and favorable economics. The firm also noted that Coinbase has been steadily gaining trading-volume market share compared with its competitors.

Looking ahead, Monness Crespi expects upcoming product and network developments to make crypto easier to use and improve interoperability across blockchains. They added that Coinbase’s solid financial performance—including 47.38% revenue growth over the past year—helps reinforce the upbeat outlook.

Coinbase Global, Inc. (NASDAQ:COIN) provides a platform for individuals to engage with the cryptocurrency market through its trading and exchange services. It provides a cryptocurrency platform that enables people to buy, sell, and store digital currencies such as Bitcoin and Ethereum.

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Disclosure: None. This article is originally published at Insider Monkey.