JPMorgan Lowers Coinbase Price Target Before Earnings Report

Coinbase's stock price has declined almost 30% in 2023, as analysts predict potential revenue challenges due to declining trading volumes and crypto prices.

Coinbase's stock, identified by the ticker COIN, has seen a significant decline of nearly 30% throughout this year. This downturn has prompted analysts to express concerns regarding the company's upcoming financial performance.

JPMorgan has adjusted its price target for Coinbase in anticipation of the earnings report scheduled for Thursday. The investment bank's analysts emphasized that a decrease in trading activity and falling cryptocurrency prices are likely to negatively impact Coinbase's revenue streams.