Coinbase price target lowered to $357 from $361 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on Coinbase (COIN) to $357 from $361 and keeps an Equal Weight rating on the shares. The company’s Q3 results beat Street expectations driven by higher transaction revenue and operating leverage, the analyst tells investors in a research note. However, the firm says Coinbase’s costs are expected to step up meaningfully in Q4, setting up a “more challenging” EBITDA year in 2026 absent a meaningful increase in trading activity or USDC growth.