Cantor Fitzgerald raised its Coinbase Global price target to $212 from $184 and maintained an Overweight rating, linking the move to stronger crypto market conditions after Bitcoin briefly surpassed $80,000 and to higher valuation multiples across digital assets. The bank also lifted its 2027 adjusted EBITDA forecast for Coinbase to $2.68 billion, incorporating the crypto market backdrop and Coinbase’s 2026 third-quarter outlook. Coinbase remains positioned as a U.S.-regulated exchange and a primary public-market vehicle for institutional crypto exposure, with shares still closely tied to trading volumes and transaction revenue even as the firm expands subscription services and stablecoin partnerships. Earlier coverage connected the valuation case to stronger volumes, ETF-related flows and crypto-equity re-ratings, and noted record crypto trading volume across consecutive quarters in Coinbase’s Q2 communications. Cantor Fitzgerald’s model had previously reflected management’s third-quarter guidance of $500 million to $580 million in subscription and services revenue, transaction fees in the teens as a percentage of net revenue, and adjusted expenses of $980 million to $1.08 billion. The $212 target was described as implying modest upside from levels at the time of the note, while some other analysts remain cautious on regulatory and volatility risks; the coming months are framed as important for whether the current momentum holds.