JPMorgan (JPM) cuts Coinbase (COIN) target to $252 after 4Q miss, keeps overweight rating

Wall Street analysts, including JPMorgan and Canaccord, reduced their price targets for Coinbase (COIN) stock after the company missed fourth-quarter earnings estimates, primarily due to weak crypto prices and trading activity pressuring volumes and fees. JPMorgan cut its target to $252 from $290 but kept an overweight rating, citing higher operating expenses and a shift toward lower-fee products. Canaccord maintained its buy rating while lowering its target to $300 from $400, noting Coinbase's solid profitability, market share gains, and progress on its product suite, including Deribit and Base. Coinbase's transaction revenue for Q4 was $982.7 million, down from previous quarters, reflecting the volatile crypto market, though the stock showed modest gains in after-hours trading.

(Source：CoinDesk)