Wall Street Banks Cut Coinbase Price Targets After Q4 Revenue Misses $1.83B Forecast

Coinbase reported fourth-quarter revenue of $1.78 billion and adjusted EPS of $0.66, missing consensus estimates of $1.83 billion and $0.96 respectively, and shares fell about 8% following the release, CoinDesk reports. JPMorgan lowered its price target on Coinbase from $290 to $252 while maintaining an "Overweight" rating, citing weak crypto markets, softer trading activity, and a shift toward lower-fee Advanced Trading and Coinbase One services that pressured volume and fee income. Canaccord reduced its price target from $400 to $300 but kept a "Buy" rating, noting the company remains solidly profitable, is gaining market share through its "Everything Exchange" strategy and Deribit acquisition, and is expected to increase share repurchases.