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Benchmark keeps Coinbase buy rating, $270 target implies 59.5% upside

Benchmark keeps Coinbase buy rating, $270 target implies 59.5% upside

Benchmark said Coinbase’s shift toward infrastructure and diversified services could help reduce reliance on crypto trading volatility while supporting longer-term growth.

Fact Check
The original primary report from The Block confirms every element of the claim: Benchmark reiterated its Buy rating, a $270 price target, ~59.5% upside (from a $169.27 close), and the rationale that Coinbase is shifting toward diversified infrastructure/services to reduce dependence on crypto trading. This is corroborated by the BlockBeats flash (which cites The Block and gives the same 59.5% and $169.27 figures) and by CryptoBriefing's coverage of the same target and infrastructure thesis.
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Summary

Benchmark reaffirmed its buy rating on Coinbase and maintained a $270 price target, implying about 59.5% upside from Tuesday’s $169.27 close. The firm said Coinbase is moving beyond a crypto trading platform toward a broader infrastructure and services provider, a transition it believes could reduce exposure to crypto market volatility and support more stable long-term growth. That view builds on Coinbase’s wider expansion into tokenized U.S. stocks, options, prediction markets, AI tools, Base ecosystem growth and CFTC-approved futures commission merchant operations, underscoring its push to diversify revenue across trading products, market infrastructure and adjacent financial services.

Terms & Concepts
  • tokenized U.S. stocks: Digital representations of U.S. equities issued or traded on blockchain-based systems
  • futures commission merchant: A firm authorized to accept and handle customer orders and funds for futures trading
  • Base ecosystem: The network of applications and activity built around Coinbase’s Base blockchain platform