MSTR, COIN Stocks See Price Target Hikes Amid Bitcoin Rally To $80K – Goldman ‘Cautiously Optimistic’ On Coinbase

Canaccord raised its Strategy target to $175 from $130 and maintained a ‘Buy’ rating, saying the setup has "materially brightened."

• Goldman Sachs raised its Coinbase target to $196 from $173 and maintained a ‘Buy’ rating while remaining "cautiously optimistic."
• Wolfe Research raised its Block target to $115 from $100 and maintained an ‘Outperform’ rating following its review of second-quarter results.
• Wolfe also raised its Circle target to $65 from $50 but maintained an ‘Underperform’ rating, making Circle the outlier among the four stocks.

Crypto-linked equities like Michael Saylor-backed Strategy (MSTR) and Coinbase (COIN) saw price target hikes from Wall Street on Tuesday, with analysts more bullish as Bitcoin (BTC) climbed toward $80,000 and sentiment across the sector improved.

Bitcoin’s price gained about 1.7% over the past 24 hours and was trading around $79,200 after paring an intraday move above $81,000, according to CoinGecko data. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘extremely bullish’ territory, accompanied by chatter at ‘extremely high’ levels. 

Despite Bitcoin’s recent rally of over 22% in the last week, it continues to trade over 37% below its record high of $126,000 seen in October last year, and 10% below its year-to-date high of over $91,000.

MSTR Stock Gets 35% Price Target Increase

In a note to investors cited by TheFly, Canaccord analyst Joseph Vafi raised his price target on Strategy to $175 from $130 while maintaining a ‘Buy’ rating. The new target represents an increase of roughly 35% from the previous target and implies a potential upside of 42% from Monday’s close.

Vafi said the setup for the stock has "materially brightened" over the past few weeks, citing a mix of company-specific developments and broader macroeconomic tailwinds.

The higher target also follows Strategy's disclosure Monday of "USD Cash," a new flexible liquidity pool within its Digital Credit Capital Framework. MSTR stock traded flat in pre-market trade, with retail sentiment on Stocktwits around the shares trending in ‘extremely bullish’ territory over the past day. 

Goldman Sachs ‘Cautiously Optimistic’ On Coinbase

Goldman Sachs analyst James Yaro raised his price target on Coinbase to $196 from $173 while maintaining a ‘Buy’ rating. The new price target implies a potential upside of 9% from Monday’s close.

Yaro said Goldman Sachs was "cautiously optimistic," citing structural growth in Coinbase's brokerage and prediction markets businesses, potential upside from renewed crypto trading activity, continued regulatory progress, and cost discipline.

The analyst also noted that brokers and crypto-linked stocks have modestly outperformed in recent sessions. 

COIN stock edged 0.7% higher in pre-market trade. Like Bitcoin and MSTR shares, it also saw retail sentiment on Stocktwits trending in ‘extremely bullish’ territory over the past day. 

Wolfe Raises Targets For Block, Circle

Wolfe Research raised its price target on Block (XYZ) to $115 from $100 while maintaining an ‘Outperform’ rating. The firm also raised the price target on Circle Internet Group (CRCL) to $65 from $50, but with an ‘Underperform’ rating, making Circle the only stock among the four names discussed with a bearish rating.

The move came as part of a broader update to the firm's estimates, price targets and ratings across the payments, consumer finance and IT services sectors following second-quarter earnings. Wolfe said results across the group pointed to healthy U.S. consumer spending and credit trends.

CRCL stock fell as much as 1.2% in pre-market trade, while XYZ stock gained 0.7%. On Stocktwits, retail sentiment around Circle improved to ‘extremely bullish’ from ‘bullish’ over the past day, while sentiment around Jack Dorsey-led Block remained in the ‘neutral’ zone.

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