Mizuho cuts Coinbase stock price target on trading weakness concerns
Mizuho reduced its price target for Coinbase (COIN) to $145, citing concerns over trading weakness and market share loss. The stock is down 51% over the past year. Q3 results beat low expectations but did not address core issues. Transaction revenue is projected at $607M for Q4, below consensus. Management narrowed 2026 expense guidance. COIN reported Q3 earnings of $2.51 per share, exceeding forecasts, with revenue of $1.2B but down 35% YoY.
How this was made
The 30-second read
Why it matters
The target reduction reflects doubts about Coinbase's ability to grow trading volumes, which could depress the stock in the near term.
Market read
Analyst downgrade on a major crypto exchange may trigger short‑term selling pressure and influence sentiment across the sector.
What to watch
Potential upside from upcoming regulatory clarity and institutional adoption of crypto assets.
Background
Coinbase reported Q3 earnings with mixed results, but analysts remain concerned about trading revenue sustainability.
Ticker impact
Mizuho lowered its price target on Coinbase to $145, citing weakness in core trading operations and market share loss to Robinhood.
likely downward pressure as the market prices in the reduced target
Target reduction from prior level signals concerns about trading revenue and competitive position, which typically leads to short-term price declines.
Market effects
May weigh on other cryptocurrency exchanges as analysts scrutinize trading revenue trends.
US crypto market could see modest pullback amid broader trading weakness.
Limited to crypto‑focused investors; broader equity markets unlikely to be affected.
Counterpoint
Despite the target cut, Coinbase's strong balance sheet and recent earnings beat could support a rebound if trading volumes recover.
Key entities
- companyCoinbase Global Inc.
US‑listed cryptocurrency exchange (NASDAQ:COIN).
- analystMizuho Securities
Equity research firm that issued the price‑target cut.
