Coinbase Stock Hits 52-Week Low as Analysts Lower Price Targets

Coinbase Global Inc. has faced significant stock price declines, recently hitting a 52-week low of $146.04, down from a high of $349.75, reflecting a 37% decrease year-to-date. Piper Sandler revised its price target for Coinbase to $180, while Barclays cut its target to $169 from $328, maintaining an equal weight rating. Despite these downgrades, analysts project a 25% revenue increase for the first quarter of 2025, estimating total revenues around $2.05 billion, driven by higher transaction volumes and improved blockchain revenues. Analysts have mixed sentiments, with some revisions upward for earnings expectations, indicating potential undervaluation at current stock levels. The ongoing volatility in the cryptocurrency market and regulatory uncertainties continue to pose challenges for Coinbase, as investors closely monitor developments. The company is also reportedly in talks to acquire Deribit, a notable options platform, which could enhance its market position.