Goldman Raises Coinbase Price Target to $196 as Analysts Upgrade Major Crypto and Technology Stocks

Goldman Sachs has raised its price target for Coinbase to $196 from $173 while maintaining a Buy rating, citing potential upside from an improving cryptocurrency market and continued expansion in newer business areas, according to information reported by CNBC shared by @WuBlockchain on X.

Canaccord has also increased its price target for Strategy to $175 from $130 while maintaining its Buy rating. The firm said the setup for MSTR has materially improved in recent weeks.

The analyst moves come alongside several other changes across the technology and financial sectors. Raymond James upgraded AMD to Strong Buy, while Bank of America remained positive on Nvidia, Micron and Marvell. Moderna, Dynatrace and Shift4 Payments also received rating upgrades.

Goldman Raises Coinbase Target to $196

Goldman Sachs maintained its Buy rating on Coinbase while increasing its price target to $196 from $173.

The revised target reflects what Goldman sees as additional upside from a sustained improvement in the cryptocurrency market. The bank also pointed to Coinbase’s continued expansion into newer business lines, including derivatives and prediction markets.

Coinbase has developed beyond its traditional role as a cryptocurrency trading platform, with additional products contributing to the company’s broader business strategy.

Goldman’s assessment indicates that the potential growth of these newer businesses is an important factor in its updated valuation. The firm’s revised target therefore incorporates both market conditions affecting cryptocurrency activity and Coinbase’s efforts to diversify its sources of revenue.

The maintained Buy rating indicates that Goldman continues to view the stock favorably under its current assessment.

Canaccord Lifts Strategy Target to $175

Canaccord has separately raised its price target for Strategy to $175 from $130 while retaining its Buy rating.

According to the information shared on X, Canaccord said the setup for MSTR has materially improved in recent weeks.

Strategy is closely associated with the cryptocurrency market because of its substantial Bitcoin holdings. Changes in the value of Bitcoin can therefore be an important consideration when investors evaluate the company and its stock.

The increase from $130 to $175 represents a significant revision to Canaccord’s previous target. However, the firm did not provide additional details in the information supplied about the specific factors behind the improvement in its assessment.

The continued Buy rating means Canaccord has maintained its positive view of the stock despite changing its target price.

Analysts Remain Positive on Major Technology Stocks

The broader analyst activity extended beyond cryptocurrency-related companies.

Raymond James upgraded AMD to Strong Buy, representing a stronger recommendation for the semiconductor company. AMD is one of several major chipmakers benefiting from continued investor attention toward the technology sector.

Bank of America, meanwhile, remained positive on Nvidia, Micron and Marvell. The firms operate across different segments of the semiconductor and technology supply chain, with their businesses connected to demand for computing and advanced electronic infrastructure.

The decision by Bank of America to maintain its positive stance indicates that the firm continues to see favorable prospects for the three companies under its current assessment.

The analyst actions demonstrate that investor attention remains concentrated on companies exposed to major technology trends, including semiconductors and digital assets.

Moderna, Dynatrace and Shift4 Also Upgraded

Several other companies also received rating upgrades.

Moderna, Dynatrace and Shift4 Payments were among the companies whose ratings were raised, according to the information shared by @WuBlockchain.

The upgrades add to a broader set of analyst revisions across technology, healthcare and payments-related businesses.

While the reasons for each individual upgrade were not detailed in the information provided, the changes indicate that analysts are reassessing companies across several industries.

Crypto Market Conditions Remain a Key Factor

The Coinbase and Strategy revisions are particularly notable because both companies have significant exposure to developments in the cryptocurrency market.

Goldman’s decision to raise Coinbase’s target was explicitly linked to expectations of sustained improvement in crypto-market conditions and growth in derivatives and prediction markets. Canaccord’s higher Strategy target similarly reflects an improved assessment of the company’s recent setup.

The two revisions come as analysts continue to evaluate how cryptocurrency market conditions can affect publicly traded companies with direct or indirect exposure to digital assets.

For Coinbase, the expansion of derivatives and prediction markets provides additional areas of business activity beyond its core cryptocurrency operations. For Strategy, its connection to Bitcoin remains an important consideration in how the company is evaluated by investors.

The latest analyst actions do not guarantee future stock performance, but they provide an indication of how major financial institutions are currently assessing several prominent companies.

Goldman’s $196 Coinbase target and Canaccord’s $175 Strategy target represent upward revisions from their previous levels, while the additional upgrades across technology, healthcare and payments companies reflect a broader round of changes in Wall Street recommendations.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.