Coinbase shares fall 6% despite beating Q3 earnings estimates

Core Insights - Coinbase Global reported Q3 2025 earnings of $1.5 per share, exceeding analyst expectations of $1.05 by 45% [2] - The company generated $1.86 billion in revenue for the quarter, surpassing the estimated $1.75 billion [2] - Coinbase went public in 2021 and was included in the S&P 500 index in May 2025, marking a significant milestone for a crypto company [3] Stock Performance - Despite strong earnings, Coinbase's stock closed at $328.51, down approximately 5% in one day, continuing a downward trend since October 27, with a total decline of over 7% in four days [4] - The last recorded higher closing price for COIN was on October 24 [4] Analyst Ratings and Predictions - JP Morgan's Kenneth Worthington upgraded Coinbase to "Overweight," predicting a stock price of $404 by December 2026, contingent on the launch of a Base token [5] - Barclays' Benjamin Budish maintained an "Equal Weight" rating but reduced the price target from $365 to $361, despite expecting strong Q3 earnings [5] - Compass Point's Ed Engel anticipated earnings would beat expectations but kept a "Sell" rating, citing concerns over the impact of USDC and staking payouts on profits [6]