Coinbase Stock Jumps 8% After Goldman Sachs Upgrades COIN to Buy

Coinbase shares surged 8% on Monday after Goldman Sachs upgraded the crypto exchange’s stock from “neutral” to “buy,” citing growing confidence in the company’s diversification strategy and long-term positioning within the digital asset ecosystem.

In a note to clients, Goldman Sachs analyst James Yaro said the bank holds “selective optimism” toward US brokers and companies operating in what he described as “structurally growing crypto infrastructure,” naming Coinbase as a key beneficiary of that trend.

Alongside the upgrade, Goldman raised its 12-month price target for COIN to $303 from $294.

Coinbase Shares End Day Up 8%, Goldman Sees 18% Upside

Coinbase closed the session up 8%, trading at $254.92 at the time of writing, with little movement during after-hours trading. At current levels, Goldman’s revised target implies upside of roughly 18%.

Yaro highlighted Coinbase’s efforts to expand beyond spot crypto trading, pointing to initiatives in infrastructure, tokenization, and prediction markets as potential growth drivers.

The analyst noted that companies able to generate revenue across multiple segments of the crypto economy may be better positioned as the market matures.

Coinbase CEO Brian Armstrong has recently reinforced that strategy, describing the firm’s ambition to become an “everything exchange.”

According to Armstrong, Coinbase plans to prioritize stablecoins, broaden its exchange offerings, and continue scaling its Ethereum layer-2 network, Base, heading into 2026.

GS upgrade $COIN from neutral to BUY.
"Selectively more optimistic on crypto."
"Shift to structural growth through growing derivatives business, best-in-class crypto infrastructure businesses, and new, secularly growing products, particularly tokenization/prediction markets" pic.twitter.com/9vuBZR1ICX

— matthew sigel, recovering CFA (@matthew_sigel) January 5, 2026

The company has already taken steps in that direction. Earlier this year, Coinbase integrated prediction markets into its platform through a partnership with Kalshi, aiming to tap into one of the fastest-growing crypto sectors in 2024.

Goldman’s outlook extends beyond Coinbase. In his report, Yaro said the bank expects broader crypto adoption in 2026, driven by increased participation from both retail and institutional investors.

He pointed to regulatory developments in the U.S. as a potential catalyst, particularly ongoing efforts to establish clearer market structure rules.

“Our base case includes further crypto regulatory reform, catalyzing broader adoption and use cases beyond trading, especially among institutions,” Yaro wrote.

He added, however, that failure to pass key legislation, including a draft crypto market structure bill in Congress, could pose a significant headwind for the sector.

According to TipRanks data, Yaro has a 62% success rate on stock ratings, with an average annual return of nearly 16%, lending additional weight to the upgrade.

Coinbase Launches Singapore Business Platform

As reported, Coinbase has launched Coinbase Business in Singapore, marking the crypto exchange’s first international rollout of its business-focused operating platform.

The move gives local startups and small businesses access to instant USDC payments, global transfers, automated accounting integrations, and a suite of tools designed for companies that manage digital assets day to day.

The debut builds on Coinbase’s collaboration with the Monetary Authority of Singapore through the BLOOM Initiative, which focuses on improving compliant cross-border digital payments.

The platform offers USDC-based global payouts, lower-cost international transactions, and an API for automated payroll and vendor management, all backed by real-time SGD banking rails via Standard Chartered.

Coinbase said the launch supports Singapore’s fast-growing innovation economy by offering a full financial stack that blends fiat and crypto under clear regulatory standards.