Coinbase shares tumble 7.9% after Q4 earnings miss and trading halt
Coinbase revealed a disappointing Q4 earnings report and an unexpected trading stoppage on February 12, triggering a one-session stock drop of 7.9%. Wall Street analysts issued new 12-month price targets while CEO Brian Armstrong expressed heightened bullishness despite the broader crypto downturn.
1. Disappointing Q4 Earnings
On February 12, Coinbase reported Q4 revenue and earnings that fell short of consensus expectations, marking the second consecutive quarter of underperformance versus analysts’ forecasts.
2. Trading Stoppage and Share Drop
An apparent trading stoppage on the platform contributed to heightened investor concern, leading to a 7.90% decline in Coinbase’s share price in a single session.
3. Analyst Price Targets
Following the earnings release and volatility, Wall Street firms adjusted their 12-month price targets for Coinbase, reflecting a range of bullish and bearish outlooks on crypto market recovery.
4. CEO’s Optimistic Outlook
Despite the weak quarter and market fluctuations, CEO Brian Armstrong reiterated that he is “more bullish than ever” on long-term growth opportunities in cryptocurrency trading and infrastructure.