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COIN Has Already Had Its Big Run. What Comes Next?

Coinbase shares have been cut nearly in half from their peak while Brian Armstrong quietly reshapes the entire business around what comes after Bitcoin dominance. Whether that transformation adds up to a $300 stock depends on a few things falling…

By Vandita Jadeja
Published October 1, 2026, 9:00am ET · 3 min read

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A striking golden bull, depicted in a dynamic charging pose, emerges from a cloud of golden light and scattering Bitcoin coins and gold pieces. The bull's muscular form and the numerous circular Bitcoin symbols are rendered in shiny, metallic gold against a dark, almost black background, creating a high-contrast and energetic scene.
A majestic golden bull, surrounded by Bitcoin coins, represents the bullish market outlook for cryptocurrencies and platforms like Coinbase in the coming year. © Thongden Studio / Shutterstock.com

Coinbase’s co-founder and chief executive, Brian Armstrong, has spent 2026 turning Coinbase (NASDAQ:COIN | COIN Price Prediction) into what he calls an “everything exchange.” Transactions tied to Bitcoin (CRYPTO:BTC) used to bring in more than half of revenue. Today they make up 12% of the business.

On the Q2 call, Armstrong described the strategy this way: “You’ve got to have all the shelves stocked so you have the inventory when that thing trends that week.”

At $190.18, shares are down 15.9% year-to-date and 39.16% over the past year, far below the 52-week high of $402.16. Crypto volatility fell to multi-year lows, and spot volume dropped with it. For Coinbase to reach $300 in 2027, several things need to align.

COIN price target

Wall Street Sees Only Modest Upside, but Revenue Forecasts Point Higher

The consensus price target of $207.10 means about 9% upside. Coinbase has missed revenue estimates in each of the last three quarters. In Q2 it reported EPS of -$1.36, well short of the -$0.2278 analysts expected. The 2027 EPS estimate has dropped to $2.8352, versus $4.9083 90 days earlier.

Revenue forecasts project $6.88 billion in 2027, up from $5.33 billion in 2026, roughly 29% growth. Analysts are split 3 Strong Buy, 19 Buy and 9 Hold.

COIN analyst ratings

Here’s the Math Behind a $300 Coinbase

Coinbase trades at about 67x 2027 earnings estimates. At $300, that multiple would rise to roughly 106x. If 2027 EPS climbed back to where it stood 90 days ago, $300 would be about 61x earnings. The highest 2027 estimate is $9.45. With a beta of 3.388, Coinbase shares move sharply once crypto activity turns.

COIN price scenario

What Could Push Coinbase to $300?

  • Market share gains: Coinbase’s share of crypto trading volume reached a record 10.3% in Q2, up from 9.1% in Q1.
  • New revenue streams: Prediction markets revenue more than doubled from Q1 and passed $100M annualized. Coinbase One has exceeded a million subscribers.
  • Lower costs: Management expects about $600 million in cost reductions compared with the 2025 exit rate. Q2 was the 14th consecutive quarter of positive adjusted EBITDA.
  • Stablecoins: Average USDC held in Coinbase products hit a record $20B. Management expects the stablecoin market to grow from $300B to $3T by 2030.
  • Regulation: The CLARITY Act failed a Senate vote 49–50 in September. Management says SEC and CFTC leadership are prepared to set clearer rules even without the bill, so a revived bill would add upside.
  • Buybacks: Roughly $2B remains on the repurchase authorization.

Coinbase Has Posted Bigger Gains Than This Before

Reaching $300 would take a gain of about 58%. Coinbase has done better: shares rose 391% in 2023 and 43% in 2024. In August 2026 alone, the stock jumped 29%. The moves go both ways: in 2022 shares fell 86%.

Why $300 Could Be Within Reach in 2027

For Coinbase to reach $300, crypto volumes need to recover and analysts must raise 2027 estimates again after cutting them hard. If that happens, Coinbase would be starting from a stronger position than in past cycles. It has a record market share, a lower cost structure and subscription revenue at 48% of net revenue.

Armstrong expects the cycle to turn: “Bitcoin will come back in a big way too.” Returns at this level are rare, but that is how Coinbase could produce exceptional gains by 2027.

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Vandita Jadeja

Vandita Jadeja is a financial publisher with over a decade of experience writing about financial topics, including investment, savings, retirement, insurance and banking. Vandita is a Chartered Accountant who loves to debunk financial concepts for readers.

Her work has appeared on sites that include The Motley Fool, InvestorPlace, and Benzinga. She covers investing and focuses on stock picks and price prediction for 24/7 Wall St.

When not looking for the next stock investment opportunity, she can be found traveling, reading, chasing sunsets and enjoying her iced latte.

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