Wall Street Retains Buy Ratings on Coinbase Stock Despite Third Straight Earnings Miss
Coinbase reported a wider-than-expected loss of $359.5 million as trading volume dropped 24 percent quarter over quarter. Despite cutting target prices, major Wall Street analysts maintained their buy ratings on the exchange operator. Institutional desks are betting on non-trading revenue and market share gains to drive long-term upside.
Coinbase stumbled for the third consecutive quarter as low market volatility starved trading desks of volume. Net losses blew past Wall Street projections, reaching three hundred fifty nine point five million dollars on revenue of one point two two billion dollars. Trading revenue took the brunt of the hit, dropping twenty-four percent quarter over quarter as low price swings kept retail traders on the sidelines.
Even with subscription and services revenue missing expectations, Wall Street equity analysts refuse to abandon their bullish thesis on the exchange. While firms like Benchmark, Needham, and Rosenblatt trimmed price targets, almost every major desk kept its buy rating intact, leaving the consensus price target around two hundred twenty-nine dollars against a market price near one hundred fifty-one dollars.
The institutional conviction relies on Coinbase grabbing a record ten point three percent of global spot trading volume alongside rapid expansion in non-trading channels. Analysts point to job cuts improving operating efficiency, record Coinbase One memberships, and expansion into derivatives and prediction markets as signals that the platform is morphing into a comprehensive financial super-app.