JPMorgan Slashes Coinbase (COIN) Price Target Ahead of Q4 Earnings Report

Financial giant JPMorgan Chase has reduced its price target for Coinbase Global, Inc. (COIN) ahead of the cryptocurrency exchange's quarterly earnings release scheduled for Thursday. Analyst Kenneth Worthington adjusted the target downward, reflecting ongoing concerns about the company's core transaction-based revenue, which remains under significant pressure. The report highlights challenges such as intense competition and lower retail trading volumes in the crypto market. This move by a major Wall Street institution signals caution regarding Coinbase's near-term financial performance as the industry navigates a complex regulatory and market environment. Investors are closely watching the upcoming earnings call for updates on the company's cost management and diversification efforts beyond trading fees.