On February 13, U.S. cryptocurrency industry leader Coinbase announced its Q4 earnings fell short of market expectations, quickly prompting Wall Street analysts to collectively adjust their ratings and target prices. Institutions such as JPMorgan Chase and Canaccord have downgraded their valuation expectations for COIN, reflecting the ongoing impact of the current crypto market weakness on the company’s fundamentals.
JPMorgan Chase pointed out that the decline in digital asset prices and trading activity directly compressed COIN’s trading volume and fee income. While maintaining an “Overweight” rating, the firm lowered its target price from $290 to $252. Analyst Kenneth Worthington’s team mentioned that operating expenses increased by 22% year-over-year, and the shift toward low-fee advanced trading modes and subscription services has put short-term pressure on profit margins.
Since the beginning of this year, COIN’s stock price has fallen approximately 40%, with pre-market prices hovering around $150, a significant retreat from last year’s highs. Meanwhile, Bitcoin has declined about 25% year-to-date, and overall market trading volume continues to shrink, dragging down related concept stocks.
Canaccord also lowered its short-term outlook but maintained a “Buy” rating, reducing its target price from $400 to $300. The firm believes that despite the weakness in spot markets, the platform still holds advantages in product layout and market share. Leading analyst Joseph Vafi and his team noted that their “All-in-One Exchange” strategy is progressing, with ongoing expansion of USDC commercial scenarios, Base, and DeFi applications on Ethereum.
Additionally, the platform recently completed the acquisition of Deribit, seen as an important step in expanding international derivatives business and promoting cross-market synergy. Canaccord expects that although the industry environment remains tight in Q1, COIN is likely to continue expanding its market share and enhance shareholder value through buybacks, with the current stock price possibly nearing a cyclical bottom.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
"24-Hour Market" Gains Popularity Due to Middle East Conflict; Crude Oil and Gold Contracts Become the New Weekend Safe Havens
Due to the Middle East conflict, crypto exchanges like Hyperliquid have become hedging tools, driving the trading of traditional assets and cryptocurrencies. During market closures, traders can use these platforms for instant hedging, accelerating the development of 24-hour markets and demonstrating their indispensability under geopolitical influences.
MarketWhisper5m ago
Traditional Finance Drop Alert: HK50 Down Over 1.5%
Gate News bot message: According to the latest Gate TradFi data, HK50 has dropped 1.5% in the short term, with current volatility significantly higher than recent average levels, and market activity has increased.
GateNews19m ago
SpaceX's Bitcoin value drops sharply ahead of historic IPO
SpaceX's Bitcoin holdings have decreased to approximately 19,283,746,565,748,392,01 million amid preparations for an IPO possibly worth over $1.75 trillion. The company, led by Elon Musk, holds 8,285 Bitcoin, down from an estimated 19,283,746,565,748,392,01 million last December.
TapChiBitcoin33m ago
SpaceX Bitcoin reserves drop to $545 million, pre-IPO accounting losses become investors' focus
SpaceX's Bitcoin reserve market value has decreased from $780 million in 2025 to $545 million currently, a loss of over $235 million in three months, with no buying or selling during this period. The company plans to submit an IPO application to the SEC in March, which will require the disclosure of its Bitcoin holdings for the first time, potentially impacting investor assessments. SpaceX's long-term holding of Bitcoin indicates that it views it as an asset reserve.
MarketWhisper34m ago
JPMorgan: Crypto Market Structure Bill Approved Mid-Year, Becomes a Catalyst for the Second Half
JPMorgan analysts predict that the U.S. CLARITY Act will be approved by mid-2026, serving as a catalyst for the cryptocurrency market. The bill will establish a comprehensive regulatory framework but faces obstacles related to stablecoin yields and conflicts of interest. If passed, it will promote dual-track regulation, support new projects, clarify institutional custody, and impact the market, while reaffirming a long-term target price for Bitcoin of $266,000.
MarketWhisper52m ago
Gate Daily (March 2): Trump campaign faces "insider trading" allegations over Iran airstrike; Vitalik explains Ethereum execution layer roadmap
Bitcoin (BTC) rebounded from weekend lows, trading around $66,700 on March 2. A mysterious account made precise bets on a U.S. airstrike against Iran, while the Trump camp faces allegations of "insider trading." Vitalik outlined Ethereum's execution layer roadmap, focusing on two major changes: state trees and virtual machines.
MarketWhisper1h ago
