Coinbase Takes Aim at 'Everything Exchange' Status with New AI-Powered Features

Coinbase Global Inc (NASDAQ:COIN) has taken another step towards becoming an 'everything exchange' by launching several new features at its 'System Update, Take Control' event in New York City on Tuesday.

The company is rolling out AI-powered investment tools, including a zero-fee advisor that provides personalized guidance based on users' portfolios and account history. It will also offer exposure to companies before their IPO through 'Pre-IPO Perps,' which allows Coinbase to capture retail appetite ahead of an IPO wave.

Coinbase is also introducing tokenized stocks, where 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.

The company's continued diversification 'should blunt the company’s revenue exposure to crypto which is in the midst of a brutal winter,' according to Needham analyst John Todaro, who maintained a Buy rating and price target of $220 for COIN. BTIG analyst Andrew Harte also reiterated a Buy rating and price target of $280.