Coinbase Stock Rises as Bitcoin Jumps, But Regulatory Concerns Loom Ahead of Earnings

Coinbase stock rallied 6%+ as Bitcoin price jumped from $27k to nearly $34k in a week. Investors use COIN as a proxy for Bitcoin.

Hopes are rising for approval of a spot Bitcoin ETF, which would benefit Coinbase through added legitimacy. BlackRock is working to get one approved.

Coinbase has an earnings report coming in early November, so some may want to wait until after that before buying.

The SEC has sued Coinbase and Binance, and the NY Attorney General filed a lawsuit against crypto companies including potentially Coinbase.

Analysts have a $84.20 average price target on COIN stock, implying 2.5% upside. The most profitable analyst has a 24% average return on COIN ratings.