Coinbase stock sinks 6% as analysts slash targets ahead of earnings

Coinbase, the largest U.S. publicly traded crypto exchange, saw its stock fall 6% to near $152, contributing to a 34% drop since January. This decline coincides with a broader pullback in digital assets, including Bitcoin. Ahead of its quarterly earnings report, several major financial institutions revised their price targets downward. JPMorgan lowered its year-end forecast from $399 to $290, citing reduced trading activity and shrinking stablecoin supply, while also noting increased competition from foreign platforms. Cantor Fitzgerald cut its target from $277 to $221, and Citi reduced its outlook from $505 to $400. Despite these target reductions, all three firms maintained "buy" ratings on Coinbase shares. Analysts currently project fourth-quarter earnings per share of $1.05.

(Source：Crypto Briefing)