Needham Cuts Coinbase Price Target Amid Volatility

Needham reduced its price target for Coinbase Global Inc. (NASDAQ:COIN) on February 13, lowering the target from $290 to $230 while retaining a Buy rating. The firm cited bitcoin trading volatility in Q1 2026 and management spending discipline as concerns, but noted positives including retail clients net-buying, prediction markets, diversified revenue, buybacks, and derivatives expansion. The note signals cautious optimism about Coinbase's growth amid market headwinds.