Поделиться этой статьей
Investment Research Firm Says Coinbase Stock Could Fall to $100
Coinbase's earnings report on Thursday will do little to shift sentiment that the exchange's shares are overvalued, according to New Constructs.
Автор Sebastian Sinclair
Coinbase (NASDAQ: COIN) shares could fall to $100 or less as the company is unlikely to meet future profit expectations, according to a U.S. investment research firm.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Nashville-based firm New Constructs' CEO David Trainer thinks investors should expect Coinbase's stock to continue to underperform, despite favorable yearly earnings.
"At [Coinbase's] current price ... the stock’s valuation implies the company will exceed the combined revenue of Intercontinental Exchange and Nasdaq," Trainer said in a research note emailed to CoinDesk on Tuesday. "We do not expect [Coinbase] to report any news from [the first quarter of this year] that could justify owning shares at current levels."
Coinbase is expected to report its first earnings on Thursday. Yet, even though the exchange has posted impressive year-over-year revenue of around $500 million and an increase in users, the research firm still believes the stock will continue to slump over the long term.
See also: Coinbase Debuts ‘Buy With PayPal’ Feature (but Read the Fine Print)
"No earnings report, in our opinion, will be strong enough to convince investors the company will exceed the extraordinary expectations for profits already baked into the current price," wrote Trainer.
The CEO also pointed to rising competition in the crypto trading space and tapering of profits for Coinbase that could lead to an unsustainable valuation.
New York Investment firm Oppenheimer analyst Owen Lau disagrees, rating the stock as "outperform" in a note on Monday. Oppenheimer said Coinbase removes "pain points" in finance and set a price target of $434 per share over 12–18 month period.
See also: NYSE-Owner ICE Sold Coinbase Stake for $1.2B
But the recent performance gains have done little to convince Trainer, who wrote Coinbase had "more downside risk ahead."
Coinbase stock has fallen 12% since debuting on the Nasdaq in mid-April with an opening price of around $381. Up 20% from May 6 lows of around $250, Coinbase shares recently traded at $303, with buyers showing some signs of life.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
