Coinbase's Earnings Miss Makes U.S. Election Even Bigger Catalyst: Analysts

Still, reduced operating expenses more than offset the revenue miss and contributed to a better adjusted Ebitda figure, said KBW, which has a market perform rating on the stock and a $165 price target. The analysts noted that retail trading volumes were higher than expected but were offset by a compression in the retail fee rate, adding that fourth-quarter commentary was also weak.