On May 6, 2025, Monness, Crespi, Hardt revised their rating for Coinbase Global, downgrading it from a “Buy” to “Neutral.” Despite this shift in outlook, analysts forecast a potential upside of 33.44% for Coinbase, with an average one-year price target set at €241.45 per share, up from its recent closing price of €180.94. The price target estimates vary, ranging from a low of €150.83 to a high of €371.13, indicating a mix of optimism and caution among investors.
However, projected annual revenue for Coinbase is estimated to drop significantly, with an anticipated revenue of €3.218 billion, marking a decrease of 48.87%. Furthermore, the projected non-GAAP Earnings Per Share (EPS) is expected to remain negative at -€0.73, raising concerns about the company’s financial performance.
In terms of investor sentiment, there has been notable activity among institutions holding shares in Coinbase. A total of 1,561 funds currently report positions, reflecting a 9.77% increase over the last quarter. Notable contributors include Jane Street Group, which upped its holdings significantly by 52.85%, increasing its ownership to 6,566K shares. Similarly, Vanguard Total Stock Market Index Fund holds a 2.89% stake despite a slight reduction in shares.
Other funds like Paradigm Operations and Geode Capital Management have also adjusted their portfolios, with varying increases and decreases in shareholdings, reflecting a dynamic investing landscape surrounding Coinbase.
This situation highlights the mixed sentiments among investors despite a generally bearish outlook from some analysts. Coinbase’s ability to navigate these challenges and leverage its market position could lead to recovery and growth in the coming years. With a significant base of institutional support, the company may still harness its potential to deliver value to its shareholders.