Analysts have recently slashed their COIN price targets, but remain optimistic. Downgraded price estimates for Coinbase, citing lower crypto trading volumes, a significant drop in the total crypto market capitalization in Q4, and falling USDC circulation.
We reiterate our overweight rating, and our Dec. 2026 price target falls to $290 after marking our model to current crypto prices. Analysts also cut COIN price target this week—from $277 to $221—while maintaining an overweight rating. Last week, trimmed its own COIN price target from $505 to $400, maintaining a buy rating on the stock.
The triggers for this week’s revision include ongoing Bitcoin price weakness and softer crypto trading volumes. The shifts underscore how market developments across crypto assets are shaping equity expectations for Coinbase.
Investors will monitor on-chain and stablecoin metrics for clues on Coinbase’s earnings trajectory. Overall, the revisions underscore the stock’s sensitivity to crypto market dynamics.
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