Wall Street analysts cut Coinbase price targets following Q4 earnings miss

JPMorgan said weak crypto markets pressured fourth-quarter results, but backs Coinbase’s strategy of investing through the cycle and returning capital via buybacks. What to know : JPMorgan maintained an overweight rating on Coinbase stock while cutting its price target to $252 after fourth-quarter earnings and Ebitda missed forecasts. Broker Canaccord cut its Coinbase price target to $300 from $400, while maintaining a buy rating. Trading volumes and retail take rates at the crypto exchange declined, prompting the investment bank to lower its forward fee assumptions.