AsianFin -- Coinbase (COIN) stock climbed over 3% on Wednesday, hitting a new 52-week high after analysts at Bernstein described the platform as a “one-stop Amazon” for crypto services.

The rally brings shares within striking distance of their all-time closing high of $357.39 set on Nov. 9, 2021.

“Coinbase is the most misunderstood company in our Crypto coverage universe,” wrote analyst Gautam Chhugani and his team, as they raised their price target on the stock to $510 from $310 and maintained an Outperform rating.