William Blair Sees Upside for Coinbase, Circle Amid Bitcoin Recovery
Financial analysts William Blair and Piper Sandler have made recent predictions about Coinbase (COIN) and Circle (CRCL), two prominent crypto-linked equities. According to a report, both companies offer 'outsized leverage to a bitcoin recovery,' with shares of COIN rising over 2% and CRCL nearly 3% in midday trade on Wednesday.
William Blair reduced its 2026 and 2027 revenue estimates for Coinbase, cutting EBITDA projections by 34% for both years. The firm stated that investors should stay involved in Coinbase as spot trading volume potentially bottoms out, but did not call for near-term gains.
Piper Sandler lowered its price target on Coinbase to $155 from $170 while maintaining a 'Neutral' rating. Analyst Patrick Moley noted that prediction markets and perpetual futures have been driving growth across the industry, posing a competitive threat to COIN's trading volume.