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Coinbase Stock Down 32% YTD as Analysts Cut Targets Before Earnings

Coinbase reports Q4 2025 earnings Feb. 12, 2026 after market close, with three major analysts downgrading price targets as the stock fell 5.73% to $153.20 on Feb. 11.

What Happened

JPMorgan cut its price target from $399 to $290, a 27% reduction, while maintaining an Overweight rating. Monness Crespi Hardt downgraded from Buy to Sell with a $120 target. HC Wainwright reduced its target from $425 to $350 but kept a Buy rating. The stock has declined approximately 32% in 2026.

  • Consensus estimates: $1.05 EPS, $1.85B revenue
  • Q4 2024 comparison: $3.39 EPS, $2.27B revenue
  • Bitcoin at ~$67K, down from $126K October 2025 peak

Context

The downgrades coincide with Bitcoin’s decline from its October 2025 peak of $126K to current levels near $67K, pressuring crypto exchange revenues and trading volumes.

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