Coinbase, Robinhood and Figure Stocks Are 60% Off Their Peaks—Bernstein Says Buy the Dip
Bernstein analysts have cut price targets for Coinbase (to $330), Robinhood (to $130), and Figure Technology Solutions (to $67), citing weak crypto sentiment and geopolitical headwinds. Despite this, they kept "Outperform" ratings on all three, highlighting their exposure to large growth markets such as stablecoins, tokenized real world assets, prediction markets, and crypto derivatives. Bernstein expects crypto-related stocks to bottom out amid weak Q1 earnings; the stocks currently trade about 60% below 2025 peak prices. Coinbase, with the highest crypto exposure, saw its 2026 earnings per share forecast cut by 44% to $5.97, though Bernstein projects a 26% revenue CAGR through 2027 driven by stablecoin and derivatives business growth. Robinhood and Figure are viewed as more resilient due to diversified revenue streams—crypto accounts for about 20% of Robinhood's revenue, while Figure focuses on blockchain tokenization. Robinhood is projected to see significant growth from prediction markets, with $586 million in revenue expected in 2026. Figure is expanding its lending business and surpassed $1 billion in monthly loan originations.
