Citi trims Coinbase price target to $400 after steep decline
Citigroup trimmed its price target for Coinbase to $400 from $505, citing weaker trading volumes, softer institutional activity and ongoing uncertainty around U.S. crypto legislation. The new target still represents more than a doubling from COIN's close last night of $146; the same analyst team had raised the target to $505 in July 2025 as the stock neared a record high of about $450.
Shares were up 6% in pre-market trading as crypto markets recovered from Thursday's crash that sent bitcoin down to $60,000. Citi reiterated a buy/high risk rating, calling Coinbase the category leader and a prime beneficiary of eventual crypto reform, and said progress on CLARITY remains the key catalyst.
The bank now expects Senate negotiations over the market structure bill to stretch beyond 2026 even as groundwork continues.
United States