BTIG Cuts Coinbase Price Target to $340 on Anticipated Q4 Volume Drop
BTIG cut Coinbase’s price target to $340 from $420 ahead of Q4, citing expected transaction volume declines after shares plunged 49% since Q3. Compass Point also lowered its target to $190 and flagged a potential 4% revenue miss plus stablecoin revenue drop and high 30x 2026 EBITDA multiple.
1. PT Cuts and Volume Outlook
BTIG lowered its price target to $340 from $420 ahead of Q4 2025 earnings, expecting transaction volumes to weaken after Coinbase shares plunged 49% since the Q3 report — outpacing the broader crypto market’s 32% decline. The firm maintained a Buy rating and highlighted progress in revenue diversification away from volatile transaction fees.
2. Compass Point's Outlook and Valuation Concerns
Compass Point maintained a Sell rating and cut its target to $190 from $230, projecting a 4% revenue miss across trading and subscription segments and a potential stablecoin revenue decline by early 2026. The firm flagged a valuation near 30x estimated 2026 EBITDA — well above 15x–20x multiples seen in past downturns — and legislative delays on the CLARITY Act as additional headwinds.