Coinbase shares climbed 5% on Friday to $147, rebounding a day after the company posted weak financial results marked by lower revenue and wider losses. The move lifted the stock above its year-to-date low of $140, though it remained far below its all-time high of $445.
Buy ratings stay in place even as targets come down
H.C. Wainwright kept its buy rating on Coinbase and set a $350 price target. From the current trading level cited in the report, that implies roughly 135% upside. The firm said the recent sell-off had pushed Coinbase to its cheapest level since 2024, making the stock look attractive after the latest drop.
The same note said Coinbase could benefit from the CLARITY Act, which remains stalled in the Senate Banking Committee. A White House meeting involving banks and crypto companies did not settle the debate over whether stablecoin rewards should be allowed.
Other Wall Street analysts also kept bullish recommendations while reducing their price targets. Rosenblatt Securities analyst Chris Brender cut his target from $325 to $240. Needham analyst John Todaro lowered his from $290 to $230. Benchmark analyst Mark Palmer reduced his target from $421 to $267. Across Wall Street, the average target fell to $303 from $400 three months earlier.
Transaction revenue dropped while services revenue improved
Coinbase said the ongoing crypto market slump weighed on its latest quarterly results. Transaction revenue fell to $982 million in the fourth quarter, down from $1.5 billion in Q4’24. That decline hit the company’s core trading business at a time when crypto prices were falling and market activity had weakened.
Subscription and services revenue moved in the opposite direction, rising to $727 million. That growth helped soften the revenue decline, but it did not erase the impact of weaker trading conditions.
The company also posted sizable quarterly losses after marking down crypto assets on its balance sheet, including Bitcoin (BTC) and Ethereum (ETH). Operating costs continued to rise as Coinbase pursued its goal of becoming an “everything exchange.”
Product expansion meets pressure from the broader crypto market
Coinbase has been spending on new products that it hopes can support future growth. The company recently introduced a prediction marketplace and said it wants to enter stock brokerage through tokenized equities. Those initiatives point to a broader business strategy, though the latest earnings still reflected pressure from the existing market cycle.
That pressure may not be over. Standard Chartered analysts said on Thursday that they had lowered their Bitcoin target to $100,000 and warned the price could fall to $50,000. If Bitcoin remains weak, Coinbase could face another hit through lower trading activity and continued valuation pressure on its crypto holdings.
Chart signals remain fragile despite the one-day bounce
The weekly chart cited in the report showed COIN falling sharply in recent months alongside Bitcoin and most altcoins. The stock dropped to an important support zone, matching the lowest swings seen since September 2024. It also remained below all major moving averages.
The relative strength index fell to the oversold level of 30, the lowest reading since 2023. Based on that technical view, the report said the more likely path is a return to the downtrend, with the next key support level near $100.