JPMorgan Chase, the largest bank globally by market capitalization, has revised its price target for Coinbase ahead of the company”s upcoming earnings report. Analyst Kenneth Worthington has cut the target by 27%, maintaining an “Overweight” rating despite the downturn in the cryptocurrency market.
Coinbase, founded in 2012 by Brian Armstrong and Fred Ehrsam, has grown to be the leading cryptocurrency exchange in the United States. The company went public in 2021 and joined the S&P 500 index in May 2025, further solidifying its position in the market. Recently, Coinbase has been focused on transforming its platform into an “Everything Exchange” that encompasses traditional stocks, cryptocurrencies, tokenized assets, and prediction markets.
In a note to investors, Worthington emphasized the challenging operating environment for crypto as the main reason behind the price target adjustment. He anticipates a notable decline in Coinbase”s earnings per share (EPS) for Q4 2025, predicting reduced trading volumes and market capitalizations in the cryptocurrency sector. The analyst projects revenue in the trading segment to fall below the company”s guidance, estimating around $670 million, compared to the guidance of $710-790 million.
JPMorgan”s recent analysis reflects a broader trend in the cryptocurrency market, as the firm has also previously indicated that Bitcoin could eventually reach $266,000, despite current market conditions. As of the latest data, Coinbase”s stock was trading at $166.44, down 0.5% in a day. The lowered price target now stands at $290, suggesting an upside of nearly 75% from the current trading price.
Coinbase”s financial performance has been under scrutiny, with the company reporting an EPS of $1.5 for Q3 2025, which exceeded estimates by 45%. The upcoming earnings report is scheduled for February 12, 2025, after market close, and will provide further insights into the company”s financial health amid ongoing market volatility.
As negotiations continue over the Senate draft of the crypto market structure bill, Coinbase recently withdrew its support due to concerns regarding restrictions on stablecoin rewards. This evolving legislative landscape will likely have lasting implications for Coinbase and the broader cryptocurrency market.
