Baird cuts Coinbase price target to $142 from $160 on weak trading volumes

Baird lowered its Coinbase price target to $142 from $160, citing weak trading activity that it expects to keep pressuring transaction revenue. Baird expected second-quarter revenue to come in about 5 to 6 percent below consensus, with trading volume down 15 to 20 percent from the prior quarter. The note said April and May were unusually slow and the early-June uptick reflected Bitcoin selling rather than new users. Based on a secondary report, the date is approximate.

• Price target $142, down from $160
• Baird sees Q2 2026 revenue about 5 to 6 percent below estimates
• Trading volume expected to fall 15 to 20 percent from Q1 2026
• April and May described as unusually slow