Bitcoin retreat and low stablecoin flows prompt JPMorgan, Citi, and Cantor to revise COIN outlook while maintaining buy ratings.
Coinbase, the largest publicly traded crypto exchange in the U.S., faces mounting pressure from Wall Street as analysts slash price targets ahead of its quarterly earnings report scheduled for Thursday.
Shares of the San Francisco-based firm have dropped 34% since January, trading near $152 after falling 6% today. The decline mirrors a broader pullback in digital assets, with Bitcoin down 27% over the past month to around $67K.
JPMorgan, the global investment bank, lowered its year-end forecast for the stock from $399 to $290, citing diminished trading activity and shrinking stablecoin supply. The firm’s analysts also flagged intensifying rivalry from overseas platforms seeking U.S. listings.
Cantor Fitzgerald trimmed its outlook from $277 to $221, while Citi, the multinational lender, reduced its target from $505 to $400. All three maintained positive ratings on the shares.
The exchange posted transaction revenue exceeding $1B during the third quarter of last year, beating consensus estimates with earnings of $1.44 per share versus a $1.09 forecast. Analysts now project earnings per share of $1.05 for the fourth quarter of 2025.
