Coinbase is poised for significant growth in 2025, building on its strong Q1 performance and a ‘seismic shift’ in the digital asset industry, according to JMP. The broker has raised its price target to $475 from $400 while maintaining its market outperform rating.
Coinbase benefits from strong near-term momentum with 2025 off to a good start: JMP. The broker raised its Coinbase price target to $475 from $400 while maintaining its market outperform rating on the stock.
Coinbase is a San Francisco-based cryptocurrency exchange founded in 2012 by Brian Armstrong and Fred Ehrsam.
It allows users to buy, sell, and store digital currencies such as 'Bitcoin' , 'Ethereum' , and 'Litecoin' .
Coinbase is known for its user-friendly interface and secure storage solutions.
As of 2022, the platform has over 73 million registered users worldwide.
In addition to cryptocurrency trading, Coinbase also offers a range of services, including payment processing and remittance solutions.
JMP’s Positive Outlook for Coinbase
According to JMP, Coinbase finished 2024 with very strong business momentum as sentiment about the wider digital asset industry improved. The report stated that there is a ‘seismic shift‘ happening in the industry and Coinbase could grow to multiples of its current size in the next five years.
Positive Q1 2025 Projections
JMP expects huge growth for Coinbase, estimating that the company will exceed current Street consensus by nearly 30% if the transaction pace continues. The report added that ‘you ain’t seen nothing yet,’ suggesting that the company’s prospects are being underestimated by Wall Street.
Regulatory Support and Future Growth
The regulatory and legislative backdrop is now supportive for the next chapter of crypto, according to JMP. This positive environment combined with Coinbase’s strong momentum could lead to significant growth for the company in the coming years.
