Freedom Broker cuts Coinbase stock price target to $175 on weak Q4 setup

Investing.com · 2026-11-06 16:09 UTC

Freedom Broker cuts Coinbase stock price target to $175 on weak Q4 setup

Investing.com - Freedom Broker lowered its price target on Coinbase Global Inc. (NASDAQ:COIN) to $175 from $185 while maintaining a Buy rating following the company’s third-quarter results.

Coinbase reported diluted GAAP earnings per share of $2.51 versus consensus expectations of $0.18. The GAAP figure included a $715 million gain on crypto assets held for investment. Adjusted net income was $78 million, or $0.27 per share, compared to consensus adjusted EPS of negative $0.12. Total revenue of $1.22 billion was flat sequentially and down 35% year-over-year, in line with Street expectations. Adjusted EBITDA rose 60% quarter-over-quarter to $333 million, about 18% above consensus.

The company generated approximately $165 million of transaction revenue through October 25, which run-rates to approximately $607 million for the fourth quarter, about 11% below prior consensus forecasts. The $590 million midpoint of subscription and services guidance for the fourth quarter, with a range of $550 million to $630 million, is about 4% below expectations.

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