Bernstein cuts Coinbase the price target to 250 USD, raises Robinhood and Circle expectations

AT A GLANCE

Bernstein maintains “Outperform” ratings on all three companies but cuts the Coinbase price target and raises the Circle price target.

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BlockBeats reports that October 27, Bernstein maintained its latest research report ratings of Coinbase、Robinhood and Circle as “Outperform,” but adjusted its earnings forecasts and price targets for all three companies. As growth in spot cryptocurrency trading slows, prediction markets, derivatives, and tokenization businesses are becoming new growth engines for the companies.Coinbase For 330 USD cut to 250 USD and lowered its 2026 revenue forecast by approximately 32%to 5500000000 USD, with a projected full-year loss per share of 2.60 USD, compared with its previous expectation of earnings per share of 5.97 USD. The firm expects Coinbase’s prediction-market and derivatives businesses to generate approximately 2028 in 2000000000 USD revenue by 600000000 USD。

Robinhood For 160 USD Bernstein maintained the 2028 price target and expects its prediction-market business to generate 1700000000 USD in revenue in 1600000000 USD, slightly above the crypto business’s expected 21%revenue over the same period. The firm expects the company’s event-contract trading volume in the third quarter to increase by 16400000000 to approximately July; the proprietary blockchain launched by 90000000000 USD recorded approximately 50000000 USD in third-quarter transaction volume, generating approximately Circle in fees.

For 140 USD Bernstein raised the price target from 145 USD to 770000000 USD, expecting third-quarter revenue to rise slightly to USDC. Although 77000000000 USD’s circulating supply fell from approximately 73000000000 USD in the second quarter to approximately https://m.theblockbeats.info/flash/373808

Key points

Bernstein maintains “Outperform” ratings on Coinbase、Robinhood and Circle.
Coinbase The price target is cut from 330 USD to 250 USD，2026 revenue forecast is lowered by approximately 32%to 5500000000 USD, with the full-year per-share expectation changing from earnings of 5.97 USD to a loss of 2.60 USD。
Robinhood The price target is maintained at 160 USD with the prediction-market business’s 2028 revenue expectation at 1700000000 USD。
Circle The price target is raised from 140 USD to 145 USD with third-quarter revenue expected to rise to 770000000 USD。
The report states that prediction-market, derivatives, and tokenization businesses may become new sources of growth for the companies.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Bernstein believes the three companies may still outperform the broader market, but is more cautious about Coinbase’s revenue and earnings expectations;Robinhood and Circle have expectations tied to prediction-market, blockchain, or tokenization-related businesses.

Why it matters to readers

The adjustments to price targets and earnings forecasts reflect the analyst’s differing views of the three companies’ future revenue sources and growth rates.

A price target is an analyst’s estimate of a future price, not the actual price; revenue and per-share profit or loss expectations may also change as new data becomes available.

Risks and unknowns

Bernstein’s original research report was not provided, so the relevant forecast figures still require verification.
The revenue, trading-volume, and fee data in the article are mostly forecasts or figures relayed from the institution, and actual results may differ.
Based solely on this evidence, it is impossible to confirm whether the prediction-market, derivatives, and tokenization businesses will ultimately achieve the expected revenue.

Bernstein cuts Coinbase the price target to 250 USD, raises Robinhood and Circle expectations

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