Clear Street Analyst: Coinbase Named as One of the Top Three Financial Technology Targets for 2026

According to reports, Clear Street analyst Owen Lau has identified Coinbase as one of the top three financial technology targets with the most potential for 2026, alongside NASDAQ (NDAQ) and S&P Global (SPGI). Lau believes that Coinbase is in a core position in the transition to blockchain financial infrastructure and is one of the companies most likely to benefit from the implementation of blockchain applications and regulatory clarity.

Lau currently maintains a 'buy' rating for Coinbase and has set a 12-month target price of $415. He notes that Coinbase's revenue structure is gradually diversifying, with subscription services, stablecoins, and on-chain financial services increasing, helping to reduce dependence on spot trading volatility. Coinbase's expansion into tokenization, payments, and derivatives is also expected to enhance its ability to navigate through cycles.

USDC is seen as a key growth engine. Circle and Coinbase jointly operate USDC, with Coinbase receiving approximately 50% of USDC revenue shared by Circle. However, Coinbase's current valuation remains below Circle's profit expectations. Lau also mentioned potential catalysts for 2026, including advancements in the US crypto market structure and stablecoin-related legislation, as well as Coinbase's expansion into prediction markets, 'super apps,' and AI financial tools.

Lau views 2026 as a 'transition year' for crypto stocks, with the market shifting focus from trading volume to actual adoption. He believes that with a strong balance sheet, international presence, and diversified product line, Coinbase has a clear advantage. (CoinDesk)

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