Analyst with 72% success rate revamps Coinbase price target

Piper Sandler analyst Patrick Moley, on April 15, revised his price target on Coinbase Global (Nasdaq: COIN).

He cited a macro tailwind that is quietly reshaping trading volumes across global markets. 

Moley, who carries a 72% success rate on his calls, pointed to the ongoing Iran war as a key catalyst for driving elevated futures trading activity across energy and commodities markets, with crypto exchanges capturing a meaningful share of that flow.

Related: Iran sets strict terms for ships crossing Hormuz after ceasefire

The earnings clock is ticking

Moley's revised target lands 26 days before Coinbase's first quarter of 2026 earnings report, expected on May 11. 

Piper Sandler expects Coinbase to project a positive tone on trading volumes, particularly in futures, where the Iran war continues to exert outsized influence on global markets.

The firm does flag some caution around tough year-over-year comparisons in the second quarter but notes that a continuation of the conflict could serve as a powerful offset.

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Where the stock stands

Coinbase has had a rough ride so far in 2026.

The stock is down 8.12% year-to-date and off 1.17% over the past month. 

But momentum has shifted sharply in recent days. The stock has surged over 23.79% in the past five sessions, and at press time was trading 3.88% higher at $207.57. 

The broader analyst community remains broadly bullish. The average 12-month price target across 24 Wall Street analysts is $255.24, with a high forecast of $400 and a low of $120, implying 23.29% upside from current levels.

Moley lifted his price target to $180 from $150 while keeping his 'Hold' rating firmly in place.

Related: Coinbase executive predicts CLARITY Act breakthrough within 24 hours