Coinbase seen undervalued as analysts cite diversification

Coinbase seen undervalued; crypto is directly disrupting Wall Street

Coinbase is being framed as misunderstood and still undervalued after a renewed debate about how crypto challenges traditional finance. As reported by Benzinga, CEO brian armstrong has argued wall street misreads Coinbase’s positioning and resilience.

Institutional research has echoed the “misunderstood” label, with Bernstein Research highlighting that investors may underappreciate revenue streams beyond retail trading. That framing centers on stablecoins, staking, custody, derivatives, and developer infrastructure on Base.

Why this matters: revenue mix, institutional growth, analyst views

The undervaluation thesis emphasizes a shift from episodic trading fees toward subscriptions, services, and infrastructure economics. As reported by The Block, recent disclosures featured over $5 billion in net cash and digital assets and a surge in annual trading volume to roughly $5.2 trillion.

Analyst positioning has evolved as institutional demand strengthens. According to Investing.com, JPMorgan upgraded COIN to Overweight and H.C. Wainwright maintained a Buy stance while trimming its target, reflecting caution on near‑term guidance but acknowledgment of platform breadth.

Editorially, the disruption narrative is not just about new assets but about disintermediating core Wall Street functions such as custody, settlement, and market access. “Crypto is directly disrupting Wall Street, so it makes sense that some on Wall Street would misunderstand crypto/Coinbase,” said Brian Armstrong, CEO, Coinbase.

At the time of this writing, COIN is $168.78, up 2.71% intraday, with a session range of $158.40–$170.43, based on data from Nasdaq. These figures offer context rather than forward guidance.

In the near term, investor focus centers on mix shift toward subscriptions and services, institutional pipelines for custody, the scaling of Base, and the maturation of derivatives. Execution against these drivers could influence valuation dispersion.

Regulatory outlook and key risks for Coinbase

Regulatory shifts that may influence revenue mix

Clearer federal frameworks for stablecoins and market structure could reshape Coinbase’s revenue distribution. As reported by AOL, policy momentum around stablecoin legislation has been flagged by market observers as a potential tailwind for compliant platforms.

If staking, custody, and derivatives rules are clarified, institutional onboarding and fee stability could improve. Conversely, fragmented or adverse interpretations would preserve volatility in realized economics and the pace of product rollout.

Core risks to the undervaluation thesis

Macro‑crypto cyclicality, jurisdictional variance in enforcement, and competition from decentralized exchanges remain central uncertainties. As summarized by TradingView coverage, these dynamics can compress volumes and pressure take rates.

Translating infrastructure scale into durable, recurring profitability is not guaranteed. CoinCentral has noted that some analysts reduced targets following softer guidance, underscoring sensitivity to execution milestones and market structure outcomes.

FAQ about Coinbase undervalued

What are the latest analyst ratings and COIN stock price targets from major firms?

Recent notes cite a bullish stance from Bernstein, a JPMorgan upgrade to Overweight, and H.C. Wainwright keeping Buy while trimming its target. Numbers vary by firm and date.

In what concrete ways is crypto disrupting Wall Street, and where does Coinbase fit in that shift?

Crypto is challenging custody, trading, settlement, and payments. Coinbase participates via regulated brokerage, institutional custody, staking, stablecoin economics, derivatives, and Base developer infrastructure.