Oppenheimer Downgrades Coinbase Stock Amid Market Uncertainty

NEW YORK, NY — Coinbase Global has faced a downgrade from U.S. investment bank Oppenheimer due to concerns over weak investor trading. Top analyst Owen Lau adjusted his price target for Coinbase’s stock from $388 to $279, citing ongoing market uncertainty affected by U.S. President Donald Trump’s import tariffs and trade wars.

Lau predicts that trading volumes on Coinbase’s platform will decline by 19% this year, estimating total trading to reach $1.3 trillion as risk appetite among investors diminishes. The investment bank also adjusted its revenue and earnings forecasts for Coinbase for 2025 and 2026.

Despite these challenges, Lau noted that the market has yet to fully accept the current administration’s stance on digital assets, leading to skepticism among investors. Coinbase’s stock has plummeted 30% this year, aligning with a drop in Bitcoin’s value, which trades around $85,000 after hitting a record high of $109,000 in January.

Even with the downgrade, Oppenheimer maintains a Buy-equivalent rating on Coinbase stock, citing its substantial market share. Coinbase currently represents 69% of U.S. spot crypto trading volume and continues to gain ground against competitors like Robinhood Markets.

The consensus rating among 21 Wall Street analysts remains a Moderate Buy, based on 12 Buy and nine Hold recommendations in the past three months. Oppenheimer’s revised target price of $290.90 suggests a 69.01% upside for the stock from current trading levels.