Citi Analyst Cuts Coinbase Price Target by 41% Ahead of Q2 Earnings
On July 23, 2026, Citi analyst Arjun Parashar reduced its price target for Coinbase (COIN) from $400 to $235—a roughly 41% cut—while maintaining a Buy rating. This follows an earlier downgrade by JPMorgan on July 17 that lowered its target to $196 from $283, keeping the Overweight designation. Both moves reflect broader concerns about crypto market conditions rather than fundamental changes in Coinbase's business model. Coinbase is set to report Q2 earnings after markets close on July 30 amid a challenging environment for digital assets. Bitcoin prices have fallen nearly 46% over the past year, and lower volatility has led to reduced trading activity, which impacts transaction revenue at exchanges like Coinbase. The company reported $1.4 billion in revenue during Q1 but still posted a net loss of $394 million due to weak market conditions. Despite the downgrades, Citi's revised target remains above Coinbase’s current share price and aligns with Wall Street's average analyst target of around $223. Analysts suggest that while expectations have been tempered, there is still perceived upside in the stock.
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