Coinbase shares tumble after weak Q3 earnings and analysts slash price targets
Coinbase reported Q3 2026 revenue of $1.22 billion, flat versus the prior quarter but 35% below a year earlier, and earnings of $0.28 per share on an adjusted basis while GAAP earnings were $2.51 per share. Management said crypto spot trading volume fell 10% quarter‑over‑quarter, though prediction‑market revenue reached $200 million annualized and the treasury added its 18,000th Bitcoin. Analysts cut price targets to $120 and disclosed Rule 10b5‑1 plans to sell up to 13.6 million shares, sending the stock down about 10.6%.
Why it matters
Analysts’ target cuts to $120 suggest further downside pressure on the stock. The disclosed share‑sale plans could dilute existing shareholders if executed. The revenue miss and volume decline highlight ongoing weakness in Coinbase’s core trading business.
Key facts
- 1Q3 2026 revenue was $1.22 billion, flat versus Q2 and down 35.0% YoY. finance.yahoo.com
- 2Adjusted earnings were $0.28 per share, beating estimates of a loss. finance.yahoo.com
- 3GAAP earnings were $2.51 per share with net income of $718.7 million. cryptorank.io
- 4Crypto spot trading volume fell 10% from the prior quarter. finance.yahoo.com
- 5Prediction‑market revenue reached an annualized $200 million during the quarter. finance.yahoo.com
- 6Transaction revenue declined ~44% YoY to $590 million. fxleaders.com
Open questions
- Adjusted EPS of $0.28 per share versus GAAP EPS of $2.51 per share reflect different reporting bases.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.