The recent volatility in the cryptocurrency market has not been good for cryptocurrency exchange Coinbase.
As of this writing, COIN was trading at around $149 per share, down 8% since Wednesday’s opening bell. The stock has fallen 34% since the beginning of the year, according to Yahoo Finance.
“Obviously it was a bit of a disaster,” said Argus Research analyst Kevin Heal. decryption.
Heal added that he is keeping an eye on whether retail and leveraged investors return to the market. Meanwhile, ahead of Coinbase’s earnings release on Thursday, the company said it is asking analysts to submit questions in advance.
“I’ve never seen anything like that at any company I cover,” Heal added.
Coinbase did not immediately respond to a request for comment. decryption About the switch. It is not uncommon for companies to ask for questions before announcing their financial results.
Publicly traded companies may require analysts to submit questions prior to an earnings release to help management prepare more detailed answers, manage time constraints, and ensure compliance with disclosure rules. In some cases, pre-filing can also reduce the possibility of off-the-cuff statements that could move the market or pose legal risks.
In October, Coinbase beat expectations for the third quarter, reporting more than $1 billion in trading revenue. However, analysts are taking a pessimistic view following the recent decline in the cryptocurrency market.
On Tuesday, JPMorgan analysts lowered their price forecasts for cryptocurrency exchange Coinbase, citing a decline in cryptocurrency trading volume, a significant decline in cryptocurrency market capitalization in the fourth quarter, and a decline in USDC circulation.
“We reiterate our Overweight rating. After adjusting our model to current crypto prices, our December 2026 price target drops to $290,” Wall Street analysts said. decryption. Analysts at the bank previously had a price target of $399 by the end of 2026.
Coinbase will report Q4 2025 after market close on Thursday.
Analysts at JPMorgan cited increased competition as a cause for concern, while justifying the lower price target.
“We see global crypto spot trading as highly fragmented, with dozens of small players threatening Coinbase’s market share,” they wrote. “We believe this risk is particularly relevant and pertinent right now as more exchanges go public, threatening the regulated monopoly that Coinbase has enjoyed as the only publicly traded cryptocurrency exchange for the past nearly four years. If Coinbase loses market share, we would expect the stock to underperform.”
Cantor Fitzgerald analysts also lowered their COIN price target from $277 to $221 this week, while maintaining an Overweight rating. And last week, Citi lowered its COIN price target from $505 to $400 and maintained a buy rating on the stock.
Last year, crypto exchanges OKX and Kraken indicated they were looking to list in the U.S., and rival Gemini listed on the Nasdaq in September for $4.4 billion.
Bitcoin has fallen 27% in the past month to a recent price of $66,853, with major altcoins such as Ethereum and XRP showing even larger losses over the same period. Bitcoin’s price has fallen 47% since peaking above $126,000 last October.
