-
Coinbase stock closed at $394.01 Monday, giving it a $100B+ market cap
-
Shares have surged 50% in the past month
-
Inclusion in S&P 500 and strong Q1 revenues have fueled the rally
-
Analysts predict further upside, with some targeting a $1T valuation
All-Time Highs for Stock and Bitcoin
Coinbase hit a milestone Monday, closing at $394.01 and crossing the $100 billion market cap for the first time. The stock also reached an intraday high of $398.50, as Bitcoin surpassed $122,000.
This comes amid renewed crypto momentum, successful ETFs, and Coinbase’s inclusion in the S&P 500 in May.
Coinbase Eyes Bigger Future
Coinbase’s stock performance has been bolstered by strong non-transaction revenues and positive analyst sentiment. Bernstein lifted its price target to $510 and called it the "Amazon of crypto."
Bitwise CIO Matt Hougan recently said Coinbase has the best chance among sub-$100B companies to reach a $1 trillion valuation.
