Citi revised its Coinbase price target in early February, pointing to weaker crypto risk appetite, declining trading volumes, and slow progress on U.S. regulatory clarity while maintaining a high-risk buy outlook.
Citi cut its price target for Coinbase from $505 to $400 on February 6, citing reduced crypto market risk appetite, weaker trading volumes, and continued uncertainty around U.S. regulatory progress. Despite these headwinds, the bank maintained a “Buy/High Risk” rating. Coinbase shares are down roughly 65% from their $450 peak, reflecting broader market pressure on crypto-related equities.