BofA lowered the firm’s price target on Coinbase (COIN) to $216 from $217 and keeps a Neutral rating on the shares. Coinbase reported adjusted EPS of $1.94, which fell short of consensus and BofA estimates due to a lower-than-expected fee rate given an adverse mix shift toward derivatives and the market maker channel. Following the results, the firm is lowering its 2026 and 2027 EPS estimates to $6.30 and $8.65, respectively, after embedding updated guidance and softer retail engagement over the near-term, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COIN:
- Unusually active option classes on open May 13th
- Coinbase’s Strategic Growth Potential and S&P 500 Inclusion Drive Buy Rating
- Coinbase price target raised to $293 from $269 at Oppenheimer
- Monness Crespi upgrades Coinbase with Q2 guidance looking ‘conservative’
- Coinbase upgraded to Buy from Neutral at Monness Crespi