Coinbase Q3 Earnings Drive Mixed Price Target Revisions Amid Bullish Crypto Outlook

Coinbase has garnered strong analyst attention following its robust Q3 earnings report, with several firms adjusting price targets based on its performance and outlook. H.C. Wainwright upgraded Coinbase to a buy rating and raised its price target to $425, citing solid quarterly earnings, increased institutional demand, seasonal bullish trends, and favorable regulatory momentum. The company reported $1.9 billion in Q3 revenue, up 25% year-over-year, and improved profitability with net income of $433 million, reflecting ongoing expansion in services amid supportive regulatory environments. While Cantor Fitzgerald lowered its price target slightly to $459 from $500, it maintained an Overweight rating, noting strong trading volume, revenue, and adjusted EBITDA that surpassed estimates and a strong start to Q4. Conversely, Clear Street raised its price target to $415 from $406, maintaining a Buy rating based on higher-than-expected transaction revenue and an improving outlook. Overall, the consensus among analysts underscores Coinbase's solid market position and growth potential as the cryptocurrency sector benefits from institutional interest and regulatory clarity.