Struggling Coinbase gets price target cut from JPMorgan ahead of Thursday earnings

Shares of COIN are down nearly 30% this year, with analysts warning that softer trading and crypto prices are likely to weigh on revenue. What to know : JPMorgan cut its December 2026 price target on Coinbase to $290 from $399 ahead of fourth-quarter earnings, citing weaker crypto trading volumes, softer prices and slower USDC growth. The bank still rates Coinbase Overweight, but projects a sharp sequential drop in earnings and EBITDA, even after factoring in a full quarter of revenue from the Deribit derivatives acquisition. Other firms, including Barclays and Compass Point, are more cautious or bearish, warning that retail trading, blockchain rewards and subscription and services revenue may miss expectations and remain closely tied to overall crypto prices.