# Bernstein Cuts Coinbase's 2026 Revenue Forecast 32% Amid Weak Spot Volume By John Kim Canonical URL: https://www.tokenpost.com/news/business/42399 Published: 2026-10-28T06:21:38.000Z Updated: 2026-10-28T06:21:38.000Z Section: Business > The firm projected new products would make up a larger share of revenue at HOOD and COIN by 2028. It also estimated third-quarter revenue of $1.5 billion for HOOD and $770 million for CRCL. Bernstein cut its 2026 revenue forecast for Coinbase (COIN) by 32% in an Oct. 26 report, citing weak native crypto spot-trading volume and a shift in valuation focus toward new products. The firm estimated third-quarter revenue of $1.5 billion for HOOD, up 13% from the prior quarter, and $770 million for CRCL, up 10%. It put FIGR's third-quarter loan volume at $5.1 billion, a 20% sequential increase. Bernstein said valuation focus across the four platforms was shifting toward new products, including prediction markets, perpetual futures, tokenization and lending platforms. The firm projected new-product revenue would grow from 3% of HOOD's total revenue in 2025 to 25% in 2028. For COIN, it forecast an increase from 2% to 19% over the same period. Bernstein maintained outperform ratings and price targets of $160 for HOOD, $250 for COIN, $145 for CRCL and $70 for FIGR. The [earlier $250 Coinbase price target]() followed a cut from $330. ## Links in this article - [earlier $250 Coinbase price target](https://www.tokenpost.com/news/investing/40948)