Needham analysts lowered their price forecast for Coinbase Global, Inc. (NYSE:COIN) to $220 from $230 on Friday.
The firm maintains a Buy rating. Lead analyst John Todaro noted that while “crypto weakness continues,” certain segments of the business show surprising durability.
Retail Traders Show Resilience
Coinbase reported first-quarter 2026 revenues of $1.4 billion. While this met expectations, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $304 million fell short of the $408 million Street estimate.
Transaction revenues also missed projections. Retail activity shifted toward the core Consumer app and declined less than Institutional activity. According to the note, this “implies the ‘every day retail trader’ showed some resilience” despite the broader market downturn.
Prediction Markets Eye $100 Million Milestone
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