New York, Feb 10, 2026, 12:43 ET — Regular session
- COIN dropped up to 3% early before paring back losses by midday.
- JPMorgan lowered its price target but stuck with the overweight rating.
- Coinbase reports after the bell Thursday, and investors are bracing for the numbers.
Coinbase Global shares pulled back Tuesday, following a price target cut from JPMorgan just before the crypto exchange is set to report its quarterly numbers. Bitcoin, meanwhile, once again failed to keep its footing above $70,000.
The stock traded down roughly 1% to $165.65 around midday, slipping earlier to a session low of $161.91.
Timing is in play here. Coinbase drops results Thursday, with a fragile backdrop—crypto prices have been whipsawing, and investors are watching closely for hints that trading volumes and fee income might be slipping again. 1
JPMorgan has trimmed its price target on Coinbase to $290 from $399, while maintaining its overweight stance, according to analyst Kenneth Worthington’s note. Worthington pointed to a “less constructive” backdrop for crypto and projected “subscription and services” revenue coming in under the company’s own guidance. 2
That figure draws attention since it captures more than just spot trading—staking revenue, for one, where users earn rewards for validating blockchain transactions, plus income connected to USDC, the dollar-linked stablecoin. Softer crypto prices? That can sap those revenue streams as well.
Bitcoin slipped around 1% to trade just under $69,900, after moving between $68,000 and $71,000 throughout the day. Investors are bracing for a busy week of U.S. economic releases, with jobs numbers due Wednesday and CPI data set for Friday. 1
Coinbase is set to release its fourth-quarter and full-year earnings after the bell on Feb. 12, with a webcast scheduled for later in the day. 3
What traders will zero in on: transaction revenue, trading volumes, and whether Coinbase’s recurring lines can offset any dip in the retail side. Eyes will also be on what the company says about expenses and compliance, with investors listening for any clues about just how much Coinbase plans to push into fresh offerings this year.
Still, relying heavily on the analyst tape carries its own risk. Crypto’s mood can swing sharply—prices can snap back, and when that happens, trading activity tends to rush back to exchanges. Volumes and spreads can jump in short order.
Thursday brings the next big catalyst: earnings and the call. For now, Coinbase stock moves with bitcoin’s hold on $70,000, plus whatever this week’s U.S. macro data throws at the market.
