Coinbase Stock Slumps as Wells Fargo Sets $200 Price Target

Coinbase stock fell 3.32 percent to $183.00 on Nasdaq on October 2, 2026, as Wells Fargo initiated coverage with an Equal Weight rating and a price target of $200.

The move leaves the cryptocurrency exchange below its $402.16 52-week high and raises attention on analyst expectations after a weak second quarter.

Wells Fargo's price target is $17.00 above Coinbase's current price, representing a potential 9.3 percent increase based on the closing level.

Coinbase reported Q2 2026 revenue of $1.22 billion and an EPS of -$1.36, missing the consensus estimate by $0.92.