Coinbase's (COIN) $2.9 billion acquisition of Deribit will be a tipping point for the company, pushing the U.S.-based exchange into direct competition with global heavyweights like Binance, Wall Street analysts wrote on Thursday.

JPMorgan lowered its price target on Coinbase to $215 from $276 and kept a ‘Neutral’ rating on the shares, as per TheFly.

Blockchain infrastructure company Coinbase (NASDAQ:COIN) in Q1 CY2025, but sales rose 24.2% year on year to $2.03 billion. Its non-GAAP profit of $1.94 per share was 0.7% above analysts’ consensus estimates.