The bank lowered its estimate from $235 per share while keeping its rating on the stock amid a tougher outlook for crypto trading activity.
Citigroup lowered its price target for Coinbase Global to $210 per share from $235 while maintaining its rating on the stock, reflecting a more cautious view of the crypto exchange's near-term earnings potential. The revised target points to weaker trading volumes, regulatory pressure and a difficult market backdrop as key drags on performance. Coinbase, the largest publicly traded crypto exchange in the U.S., remains closely tied to digital-asset market activity, with revenue heavily dependent on trading volumes that have softened as retail participation cools and institutional investors stay cautious. The change comes amid a broader Wall Street reassessment of crypto-linked equities, even as some analysts continue to point to Coinbase's custody business, USDC partnership, derivatives push and international expansion as longer-term growth drivers.