JPMorgan Chase lowered its target price for Coinbase ahead of its earnings report, but maintained its "overweight" rating.

PANews reported on February 11th that, according to CoinDesk, Coinbase's stock price has fallen by over 50% since Bitcoin broke through the $126,000 high last October, with a projected decline of 27% by 2026. JPMorgan lowered its target price for Coinbase from $399 to $290 before the earnings release, but maintained its "overweight" rating, anticipating a 75% upside from the current price of $165. Analysts expect adjusted EBITDA of $734 million for the fourth quarter, down from $801 million in the previous quarter, primarily due to reduced trading volume, weak crypto prices, and slower USDC growth. Spot trading volume for the quarter is expected to be $263 billion, with USDC-related revenue of $312 million. The acquired Deribit exchange contributed approximately $117 million in trading revenue, pushing total trading revenue to $1.06 billion. Subscription and service revenue is expected to be $670 million, below the company's previous guidance range of $710-790 million, reflecting weak crypto prices and declining staking yields. The company's operating expenses are expected to be lower than the guidance level.