Leading financial firm JPMorgan has reiterated a neutral rating and maintained a December 2025 price target of $196 for Coinbase, despite the crypto exchange reporting third-quarter results below market expectations. Analysts Kenneth B. Worthington, Michael Cho, Alexander Bernstein, and Madeline Daleiden expressed confidence in Coinbase’s ongoing initiatives, highlighting the company’s strategic direction in expanding its role within the crypto-ecosystem.
“Although overall results fell short of expectations, we see Coinbase continuing to execute in emerging areas of its business, welcoming potential avenues of future growth,” the analysts noted. “We continue to be believers in the crypto-ecosystem and see Coinbase as a leading intermediary.”
Coinbase’s Q3 report, released Wednesday, detailed a net income of $75 million, falling short of the $112.2 million projected by Bloomberg. Net revenue saw a year-on-year increase due to favorable crypto market conditions compared to 2022, yet several key performance metrics declined from the previous quarter:
- Net Revenue: $1.13 billion, down from $1.38 billion in Q2
- Net Income: $75 million vs. the expected $112.2 million
- Adjusted EBITDA: Reflects an upward trend year-on-year
JPMorgan analysts view Coinbase’s position in the crypto space as increasingly pivotal. With a strategic approach to emerging areas, Coinbase is expected to benefit from long-term growth in digital asset adoption.
