What’s Driving Coinbase Stock Higher Ahead Of Earnings This Week?

by | May 4, 2026 | General

Coinbase Global, Inc. (NASDAQ:COIN) shares rose on Monday, supported by positive sentiment in the cryptocurrency market and policy developments.

• Coinbase Global shares are powering higher. Why is COIN stock surging?

Stablecoin Policy Support

The move follows news that Coinbase is backing a Senate compromise on stablecoin rewards that could revive the stalled CLARITY Act.

The proposal would restrict rewards that resemble bank deposit interest while allowing incentives tied to actual crypto platform activity, with the Department of the Treasury and Commodity Futures Trading Commission set to define the rules.

The compromise addresses a key dispute between banks and crypto firms over stablecoin yields.

Coinbase Chief Policy Officer Faryar Shirzad said the agreement preserves “the ability for Americans to earn rewards based on real usage of crypto platforms and networks.”

Also Read: Coinbase CEO Brian Armstrong Says ‘Mark It Up’ After Reported Compromise On Clarity Act’s Stablecoin Yields Clause

Institutional Crypto Interest

Separately, Bitmine Immersion Technologies Inc (NYSE:BMNR) announced now holds over 5.18 million Ethereum (CRYPTO: ETH) tokens, representing 4.29% of the total ETH supply.

This news highlights the growing institutional interest in cryptocurrencies, which may be influencing investor sentiment towards Coinbase.

Short Interest Rises

Short interest in Coinbase rose from 24.07 million to 25.20 million shares, representing 12.82% of the float. At an average daily volume of 9 million shares, it would take about 2.8 days for short sellers to cover positions.

COIN Technical Analysis: Trend, Momentum and Key Levels

Coinbase trades within a 52-week range of $139.36 to $444.65, positioning it in the upper half. The stock is 5.7% above its 20-day SMA and 6.7% above its 50-day SMA, indicating bullish momentum.

However, it remains 1.8% below its 100-day SMA, suggesting some intermediate-term resistance.

The RSI is 51.61, indicating neutral momentum with the stock neither overbought nor oversold. The MACD is below the signal line, signaling bearish momentum that traders should monitor closely.

  • Key Resistance: $213.50 — Level where selling pressure may increase.
  • Key Support: $163 — Level where buying interest may emerge.

Coinbase Earnings Preview and Analyst Price Targets

Coinbase is set to report earnings on May 7 (confirmed).

  • EPS Estimate: 26 cents (Down from $1.94)
  • Revenue Estimate: $1.50 billion (Down from $2.03 billion)
  • Valuation: P/E of 43.0x (Indicates premium valuation)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with a consensus price target of $307.42. Recent analyst moves include:

  • Cantor Fitzgerald: Overweight (Raises target to $250 on April 21)
  • Piper Sandler: Neutral (Raises Target to $180 on April 15)
  • Citizens: Market Outperform (Lowers Target to $355 on April 10)

COIN Stock Price Activity: Coinbase Global shares were up 7.07% at $204.93 at the time of publication on Monday, according to Benzinga Pro data.

Photo: David Esser / Shutterstock