JPMorgan Slashes Coinbase Price Target by 31% to $196

JPMorgan analyst Kenneth Worthington slashed the price target on Coinbase Global Inc. (NASDAQ: COIN) by nearly 31% to $196 from $283, while maintaining an "Overweight" rating on the largest U.S. crypto exchange.

Rating Change

• Previous Price Target: $283
• New Price Target: $196
• Rating: Overweight
• Reduction: 31%

Analyst Rationale

The revision reflects changing market conditions and digital asset valuations, but the analyst still sees roughly 24% upside from current levels.

Context

The cut comes amid heightened volatility in cryptocurrency markets, with Bitcoin and other digital assets declining. Coinbase shares have also been pressured by lower trading volumes and regulatory headwinds.

Takeaway

Despite the lower price target, the maintained Overweight rating indicates JPMorgan still sees long-term growth potential, albeit with more conservative near-term expectations.