Coinbase stock price (NASDAQ:COIN) has added 5.7% in pre-market trading, clawing back a portion of the previous session’s 7.9% decline as analysts across Wall Street reassessed their positions following the cryptocurrency exchange’s fourth-quarter earnings report.

The pre-market bounce comes despite a wave of price target cuts from major investment banks, with analysts trimming their forecasts by as much as 44% in some cases.

The sharp downgrades follow Coinbase’s first quarterly loss since the third quarter of 2023, with the company reporting a net loss of $666.7 million for the fourth quarter of 2025.

Transaction revenue fell 37% year-over-year to $982.7 million, weighed down by a cryptocurrency market that saw Bitcoin…