Coinbase Global Inc (COIN  ) is rolling out an AI-powered investment advisor that provides "personalized guidance" by analyzing a user's portfolios and account history. Here are some key analyst takeaways:

  • Needham analyst John Todaro maintained a Buy rating and price target of $220.
  • BTIG analyst Andrew Harte reiterated a Buy rating and price target of $280.
Needham: Coinbase is "pushing more into equities, options, AI and prediction markets," Todaro said in a note.

He noted the product launches at the "System Update - Take Control" event held on Tuesday in New York City:

  • Pre-IPO Perps: Offers exposure to companies before their IPO. It allows Coinbase to capture "retail appetite ahead of an AI IPO wave."
  • Tokenized Stocks: Stock ownership comes fully on-chain, with tokens backed 1:1 by the underlying stock. These can be traded on DeFi and sent to other wallets.
  • Thematic Stock Indices: 4 indices, namely AI10 (AI stocks), Defense10 (defense and aerospace stocks), China10 (select Chinese equities) and Tech100 (100 US tech stocks).
  • AI Advisor: Zero fee investment advisor that has knowledge of a customer's entire portfolio.
  • Hundreds of new binary crypto markets
  • Combos in prediction markets, allowing multiple predictions in a single contract
Coinbase's continued diversification "should blunt the company's revenue exposure to crypto which is in the midst of a brutal winter," the analyst further wrote.

BTIG: The highlight of the event wasCoinbase Global's announcement of tokenized equities that are 1:1 backed by the underlying stock, Harte said. The company is working on creating "a leading digital assets platform with real world utility," he wrote.

Coinbase is broadening the addressable market for trading, the analyst stated. He further noted that crypto trading volumes had picked up in the first half of June.

COIN Price Action

Shares of Coinbase Global had risen by 0.21% to $169.63 at the time of publication on Wednesday.