Bernstein Cuts COIN 2026 Revenue Forecast 32%, Keeps $250 Price Target

Bernstein cut its 2026 revenue forecast for Coinbase by 32% in an Oct 26 report, keeping an Outperform rating and a $250 target. It sees Hood Q3 revenue at $1.5 billion, up 13% quarter over quarter, Circle at $770 million, up 10% and Figure loans at $5.1 billion, up 20%. Weak native spot volumes pushed the four platforms toward prediction markets, perpetual futures, tokenization and lending.