Coinbase’s stock took another hit after the exchange reported a Q4 earnings miss, prompting several Wall Street analysts to trim price targets and temper near-term expectations. JPMorgan cut its price target on Coinbase to $252 from $290 while keeping an overweight rating, saying weaker crypto prices and slowing trading activity pressured volumes and fee revenue. The bank’s team, led by Kenneth Worthington, pointed to a 22% year-over-year rise in operating expenses and a revenue mix shift toward lower-fee products—Advanced trading and Coinbase One—which dented results. JPMorgan also lowered its forward take-rate assumptions (the share of transaction volume Coinbase keeps as revenue) and cited a softer outlook for trading volume and market capitalization. Canaccord reaffirmed a buy rating but lowered its price target to $300 from $400 after trimming near-term estimates. The broker highlighted Coinbase’s durable profitability and scale, noting progress on its “Everything Exchange” strategy, growing USDC commerce use cases, and expanding DeFi activity on Base and Ethereum. Canaccord also flagged Deribit—the derivatives platform Coinbase acquired—as a strategic addition that helps drive cross-sell across spot and derivatives markets outside the U.S. The firm said global trading volume and Coinbase’s market share are roughly double year-over-year, with recent notional volume records driven in part by activity in gold and silver futures. Still, Canaccord expects a tougher Q1 for the industry, sees Coinbase gaining share and continuing buybacks, and values the stock at $300 based on 22× its 2027 EBITDA estimate. Broader market context is grim: crypto-linked equities have mirrored the churn in digital assets as trading volumes and token prices slid. Bitcoin was trading around $67,284.66 at the time of reporting and is down roughly 25% year-to-date. Coinbase’s stock has felt the strain—down about 40% so far this year—closing at $141.09 yesterday and trading near $150 in pre-market action at publication. The takeaway: analysts still see long-term upside in Coinbase’s business model and market position, but near-term headwinds from softer crypto prices, weaker volumes, rising costs, and a shift to lower-fee products have pushed several firms to lower near-term forecasts and trim price targets. Read more AI-generated news on: undefined/news

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