Coinbase (NASDAQ:COIN) stock is getting a boost today and we’re diving into recent price predictions for an idea of how high the shares could go.
There are currently 21 analysts offering 12-month price predictions for COIN stock. Based on the highest of those expectations, we could see the price of COIN shares reach $600, but that’s an incredibly bullish stance to take with a potential 214.5% upside from Monday’s close.
Let’s consider a more middle-of-the-road option with the median price target for COIN stock. This is sitting at a much more reasonable price of $296 per share. That represents a potential 55.2% increase from yesterday’s closing price.
Now, let’s talk about the worst-case scenario for COIN stock. The low estimate for Coinbase shares from those 21 analysts is sitting at only $200. That would only have the price of COIN increasing by 4.8% when compared to its closing price from Monday, according to CNNBusiness.
So what about the current consensus rating for COIN stock? Based on 25 analyst ratings, COIN shares are a “buy”. That comes from 15 “buy” ratings, “three “outperform” ratings, six “hold” ratings, as well as a single “sell” rating for the crypto exchange company’s shares.
It’s worth highlighting that COIN stock is seeing a good amount of trading today too. As of this writing, more than 5 million shares of the company’s stock have changed hands. That’s just above its daily average trading volume of about 4.9 million shares.
COIN stock is up close to 1% as of Tuesday afternoon.
Investors searching for the latest stock market news are in luck!
InvestorPlace has them covered with our most recent stock coverage for Tuesday! That includes all the latest news they need to know about shares of SoFi (NASDAQ:SOFI) stock, AMC Entertainment (NYSE:AMC) stock, and GoodRx (NASDAQ:GDRX) stock today. You can find out all about these matters at the following links!
More Stock Market News for Monday
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- Is GDRX Stock a Buy After Major Plunge? 3 Analysts Weigh In on GoodRx.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
