Bernstein says crypto-linked equities like Coinbase, Robinhood and Figure now trade about 60% below last year’s peaks, but analysts see growth in revenue and earnings through 2027.
Bernstein told clients on Monday that the steep selloff in crypto-linked equities had created a more attractive entry point into tokenization and onchain-finance themes, while maintaining bullish ratings on Coinbase, Robinhood and Figure.
In a note to clients, Bernstein maintained Outperform ratings on all three companies while cutting price targets, arguing the reset had improved the risk-reward profile for investors seeking exposure to onchain finance.
Shares of the trio have fallen between 57% and 62% from their 2025 peaks, although Bernstein continues to forecast double-digit growth in revenue and earnings through 2027. The firm lowered its price target on Coinbase (COIN) to $330 from $440, on Robinhood (HOOD) to $130 from $160 and on Figure (FIGR) to $67 from $72, citing near-term pressure and the prospect of weak first-quarter earnings results.
