COIN, HOOD, MSTR Stocks Drop Despite Price Target Hikes, Bullish Q1 Outlook From Cantor Fitzgerald

• Shares of Coinbase, Robinhood, Strategy, and Block declined despite price target increases from Cantor Fitzgerald ahead of first-quarter earnings.
• The firm maintained ‘Overweight’ ratings across all four stocks.
• It stated that while thematic headwinds have pressured the sector, the risks appear overstated, and Q1 estimates look largely achievable.

Shares of crypto-linked equities Robinhood (HOOD), Coinbase (COIN), Strategy (MSTR), and Block (XYZ) tumbled on Tuesday afternoon despite getting price target hikes from Cantor Fitzgerald amid broader weakness in the equities market.

The equities and cryptocurrency markets trended lower in afternoon trade. Bitcoin (BTC) edged 0.7% lower in the last 24 hours to around $75,600. Meanwhile, COIN’s stock took the biggest hit among the repriced group, down more than 6% in afternoon trade. 

The drop comes despite Cantor Fitzgerald analyst Ramsey El-Assal raising the price target on Coinbase to $250 from $221 and keeping an ‘Overweight’ rating on the shares, according to a note cited by TheFly. On Stocktwits, retail sentiment around Coinbase continued to trend in ‘extremely bullish’ territory over the past day, accompanied by chatter at ‘high’ levels.

Price Targets Raised Across Crypto Equities

Cantor Fitzgerald also increased its price targets on several other crypto-linked names. The firm lifted its target on Robinhood to $110 from $95, on Strategy to $212 from $192, and on Block to $88 from $78. All three stocks retained ‘Overweight’ ratings.

El-Assal said that recent bank results and company commentary suggest consumer spending remains relatively stable, assuaging concerns about a broader macro slowdown. He added that while thematic headwinds have pressured the sector, these risks appear overstated, and Q1 estimates look largely achievable, with forward guidance and Middle East developments likely acting as the main catalysts, the firm says.

Despite the hike in price targets, HOOD’s stock tumbled more than 4%, while MSTR’s stock was down 2.78% and XYZ’s stock fell around 2%. On Stocktwits, retail sentiment around Robinhood and Strategy trended in ‘extremely bullish’ territory over the past day, while sentiment around Block stayed in the ‘bullish’ zone.

KeyBanc also put a price target of $110 on Robinhood, but it was slashed down from $120. The firm maintained an ‘Overweight’ rating on the shares, citing a tougher near-term environment for crypto-driven revenues.

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