Coinbase Global (NASDAQ: COIN) stock has been riding the recent crypto wave higher. Shares of the cryptocurrency exchange platform have rocketed higher by more than 70% over the past month. That coincides with a surge in value within the digital assets market, including a nearly 50% rise in the price of Bitcoin.

Coinbase is considered a beneficiary as more investors seek to hold the leading cryptocurrency in their portfolio. That's the environment that led JMP Securities analyst Devin Ryan on Wednesday to boost his target price for Coinbase stock from $220 to $300 per share. That would represent a gain of roughly 20% from Coinbase stock's Wednesday closing price.

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Source Fool.com