The Crypto Exchange Coinbase (Coin) faced a weaker view because the uncertainty introduced by the threats of President Donald Trump’s tariffs wrote the shadow of the crypto retail activity, the Oppenheimer’s analyst analysts wrote in a report.
The investment bank cut off the year-to-year trading forecast by 19% to $ 1.3 trillion and its first-quarter estimate of $ 380 billion, down 13% from the previous quarter while rejection of appetite.
Despite a general more supporting tone from Washington-with pro-crypto signals from the White House, Congress and Regulators-analysts say the market does not fully embrace the shift.
“Since the election, we have seen the most pro-crypto president, administration, congress, regulators, executive order, and SEC statements, which are meant to signal the world to open the US for blockchain businesses to attract capital, project, and talent,” analyst Owen Lau wrote. “During the process for the public to believe in such a day-and-night move, it is unfortunate to see Trump’s on-and-offs again pushed the market concern, shrinkage of fear, and pulling the retail trade,”
Coinbase’s stock dropped 30% this year, underperforming bitcoin (Btc) and the S&P 500, which drops 10% and 8%, respectively. While the numbers marks an improvement from the 2022 collapse – when the coin drops by 86% – they still highlight the platform’s sensitivity to the wider MacRO signals.
The Oppenheimer also lowered 2025 and 2026 forecasts for revenue and income and cut off the target sharing price to $ 279 from $ 388, stating that retail participation could remain covered during uncertainty. It has an outperform rating on shares, which fell 1.2% to $ 173.39 on Wednesday.
An upside down: market sharing. Coinbase costs 69% of the amount of US Crypto trading in February, which gains land against rivals such as Robinhood (Hood). Maintaining that lead depends on whether the market can shake the tariff jitters and regain momentum.
Oppenheimer said despite close obstacles, it remains to be optimistic about Coinbase’s long -term potential.
“As a focused crypto leader with optionality in tokenization and use of use cases, we believe the coin can order a premium. In our point of view, the coin is a strong rebound stock if/when tariff tensions are Deescalate,” Lau wrote.
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