Coinbase Launches Agentic Wallets After JPMorgan Cuts Price Target to $290
JPMorgan cut its price target on Coinbase Global to $290 from $399, Citigroup lowered its target to $400 and BTIG trimmed its to $340, all before the Feb. 12 fiscal Q4 earnings release. The company introduced Agentic Wallets for AI-driven autonomous blockchain transactions on its Developer Platform.
1. Analyst Price Target Revisions
JPMorgan reduced its price target to $290 from $399, Citigroup lowered its target to $400, BTIG trimmed its to $340 and Barclays maintained a $258 target, while all firms upheld bullish ratings ahead of the fiscal fourth-quarter report.
2. Upcoming Q4 Earnings Release
Coinbase Global is set to release its Q4 results after market close on Feb. 12, with analysts revising forecasts for trading revenues and fee diversification amid a 49% share decline since the Q3 report.
3. Launch of Agentic Wallets
Agentic Wallets enable AI agents to execute autonomous blockchain transactions via programmable smart-contract interactions, aiming to boost institutional developer engagement and expand the platform’s digital asset infrastructure services.