On January 3, 2025, Coinbase shares surged by 47% in 2024, reaching $255.56 per share, as the cryptocurrency exchange capitalizes on renewed interest in digital assets. The company's market cap now stands at $64 billion, with an average trading volume of 13.4 million shares over the past three months.
Despite disappointing third-quarter results released in late October 2024, where earnings per share (EPS) were $0.28 compared to the expected $0.41, analysts remain optimistic. Coinbase's net income for that quarter was $75.5 million, driven by a 98% year-over-year increase in retail trading revenue, totaling $483.3 million.
Wall Street analysts have set an average target price of $298.11 for Coinbase stock, indicating a potential upside of 16% from the current price of $257.21. Projections suggest that by the end of 2025, Coinbase's stock price could reach $450, representing a 75% increase from today's value.