BlockBeats News, November 1, JPMorgan analysts Kenneth B. Worthington, Michael Cho, Alexander Bernstein, and Madeline Daleiden wrote in a report on Friday: 'Despite overall performance falling short of expectations, we believe Coinbase will continue to play a role in emerging areas of its business, welcoming potential avenues for future growth.
We continue to believe in the cryptocurrency ecosystem and view Coinbase as a leading intermediary, hence we maintain a neutral rating and a target price of $196 for December 2025.
On Wednesday, Coinbase reported its third-quarter performance, showing a net income of $75 million, which fell short of the $112.2 million expected by analysts in a Bloomberg survey. Although the company's net income, net profit, and adjusted EBITDA showed year-over-year growth due to lower cryptocurrency prices last year, some key profitability metrics declined compared to the previous quarter. For instance, the company’s net income for the third quarter was $1.13 billion, down from $1.38 billion in the previous quarter.