Mizuho Cuts Coinbase Price Target Amid Revenue Volatility Concerns

Analysts are revising their expectations for Coinbase Global Inc., citing concerns over revenue volatility tied to cryptocurrency market fluctuations.

Mizuho cut its price target on Coinbase stock from $200 to $155, while maintaining a Neutral rating. The stock currently trades at $146.26, down nearly 13% over the past week and hovering just above its 52-week low of $139.11.

The firm acknowledged Coinbase's position as a prominent cryptocurrency platform in Western markets, but noted that ongoing challenges with transaction revenue volatility remain a concern. Mizuho also recognized progress in areas such as USDC stablecoin, staking services, derivatives, and newer business initiatives.

However, the analyst pointed to near-term headwinds including softer trading volumes and uncertainty around the prediction market business trajectory. Mizuho stated that consensus expectations for the company remain too elevated, aligning with recent financial performance where revenue declined 9.2% over the last twelve months.