NEW YORK, December 30, 2025, 17:20 ET — After-hours
- Coinbase shares were down about 0.9% in after-hours trading on Tuesday.
- Needham cut its price target on Coinbase to $290 from $400, keeping a Buy rating and citing soft crypto trading volumes.
- Clear Street said Coinbase is positioned to benefit if prediction markets expand over the longer term.
Coinbase Global shares slipped in after-hours trading on Tuesday after Needham lowered its price target on the crypto exchange operator, pointing to a weaker outlook for trading activity.
The call matters because Coinbase’s results are closely tied to trading volumes — the amount of buying and selling on its platforms — which can cool when price momentum fades and retail investors step back.
That dynamic is back in focus heading into year-end, when liquidity thins and swings in crypto-linked stocks can be amplified by small shifts in risk appetite.
Needham analyst John Todaro cut the firm’s price target on Coinbase to $290 from $400 and reiterated a Buy rating, saying the brokerage expects “continued weakness” in crypto volumes for the next couple of quarters. “Retail volumes typically remain muted until momentum returns,” Todaro wrote. TipRanks
In a separate note, Clear Street said Coinbase and stablecoin issuer Circle are well placed to benefit from growth in prediction markets — contracts tied to the outcomes of real-world events — projecting the market could reach $14 billion by 2030, with trading volume of $1.2 trillion.
Bitcoin was up about 1.4% on Tuesday, while other crypto-linked stocks were also lower in late trading, including Robinhood and Strategy (formerly MicroStrategy).
Technicians note Coinbase remains well below its 50-day and 200-day moving averages — a common gauge of near- and longer-term trend — after a sharp pullback from its 2025 highs.
For Coinbase bulls, the immediate question is whether crypto trading activity stabilizes in early 2026, and whether newer products can help smooth revenue that has historically risen and fallen with market volatility.
Regulatory headlines remain another swing factor for the sector, with investors watching how U.S. oversight evolves for new crypto-adjacent products such as event contracts and prediction markets.
Before the next session, traders will contend with year-end positioning and potentially thinner liquidity. U.S. stock markets are set to keep regular hours on Wednesday, while the bond market is slated for an early close.
Economic data is light, with weekly jobless claims and the S&P CoreLogic Case-Shiller home price index among the releases flagged for December 31. Markets are closed on January 1 for New Year’s Day.
Coinbase has not announced a date for its next earnings report; market calendars show varying estimates clustered in mid-to-late February. Investors will also watch for any fresh commentary on trading volumes and product rollout cadence as the quarter turns.
For now, Coinbase shares were last down about 0.9% after hours at $231.60, tracking a mixed tape in crypto-related equities even as bitcoin ticked higher.
