Coinbase Q1 Revenue Drops 30.5% to $1.40B; Targets Cut to $310, $220, $107
COIN•Coinbase posted a first-quarter adjusted operating loss of $0.17 per share as revenue fell 30.5% to $1.40 billion, driven by a 40% drop in transaction fees and a 67% decline in adjusted EBITDA. Analysts cut price targets to $310 (58% upside), $220 and $107, signaling divergent recovery views.
1. Q1 Financial Performance
Coinbase reported a first-quarter adjusted operating loss of $0.17 per share, reversing a prior-year operating income of $1.94 per share. Total revenues declined 30.5% year-over-year to $1.40 billion, led by a 40% drop in transaction fees and a 67% fall in adjusted EBITDA.
2. Analyst Target Revisions
H.C. Wainwright cut its price target to $310, implying 58% upside from the then $196.20 level. Needham trimmed its target to $220 while maintaining a Buy rating, and Barclays lowered its target to $107, reflecting varied confidence in a recovery.
3. Market Context and Outlook
The company’s market capitalization stands at $51.94 billion with a 52-week share range of $139.36 to $444.65. Investor attention will focus on consumer activity trends and fee-based revenue as key drivers for next quarter's stock performance.
