Coinbase (COIN) has received a new price target of $510 from Bernstein analysts, significantly higher than the previous $310, following a 12% stock increase on Tuesday. This target is the highest among those tracked by Visible Alpha. Currently, the stock trades just above $351, having risen as much as 7% earlier in the day. Bernstein described Coinbase as "the most misunderstood company in our Crypto coverage universe," highlighting the bearish sentiment from Wall Street analysts despite Coinbase's strong position in consumer and institutional cryptocurrency trading. The average target from brokers surveyed by Visible Alpha stands at $273, indicating a potential decline from current levels. Bernstein noted that the bearish outlook on Coinbase has not materialized, as the company maintains its market share despite emerging competition. They also pointed out that traditional brokerage competitors are still months away from launching, which is significant in the fast-paced crypto market. Coinbase's stock has gained over 40% in value in 2025, buoyed by legislative progress in the crypto sector and renewed investor confidence. Read more AI-generated news on: https://app.chaingpt.org/news