TLDR
- Bank of America analyst Craig Siegenthaler raised Robinhood’s price target to $119 while cutting Coinbase’s to $369
- Robinhood beat earnings expectations with $0.42 EPS versus $0.31 expected, while revenue jumped 45% to $989 million
- Coinbase missed badly with $0.12 EPS versus $1.25 expected and revenue of $1.5 billion missing $1.59 billion estimates
- Coinbase stock dropped 16% after earnings while Robinhood fell 3% despite strong results due to market conditions
- Both companies face ongoing volatility tied to crypto market conditions and regulatory developments
Bank of America analyst Craig Siegenthaler updated his ratings on major crypto exchange platforms following their second-quarter earnings reports. The five-star analyst now views Robinhood Markets as the superior investment compared to Coinbase Global.
Siegenthaler raised his price target on Robinhood stock from $112 to $119, maintaining a “Buy” rating. This implies 19.1% upside potential from current levels. The analyst praised Robinhood’s strong earnings performance and effective cost management.
Robinhood delivered impressive second-quarter results that exceeded Wall Street expectations. The company reported earnings per share of $0.42, beating the consensus estimate of $0.31 per share by 40%. Revenue surged 45% year-over-year to $989 million, surpassing expectations of $914.6 million.

The strong performance came as Bitcoin prices remained elevated throughout the quarter. This helped Robinhood generate higher revenue from interest-earning assets and increased transaction volumes. The company has been rapidly expanding its crypto operations and international presence.
Robinhood’s stock has rallied 177% year-to-date, making it one of the top performers among U.S. tech stocks in 2025. The company recently completed acquisitions of Bitstamp and WonderFi to strengthen its crypto offerings. It has also launched new products including tokenized stocks and enhanced crypto services in Europe and the U.S.
Coinbase Struggles with Earnings Miss
In contrast, Siegenthaler cut Coinbase’s price target to $369 from $383 while maintaining a “Hold” rating. The analyst expressed disappointment with Coinbase’s earnings performance and cautious outlook.

Coinbase reported a major earnings miss for the second quarter. The company posted earnings per share of $0.12, far below the consensus estimate of $1.25 and down from $0.14 in the same quarter last year. Revenue rose just 3.3% year-over-year to $1.5 billion, missing analyst expectations of $1.59 billion.
Trading volumes at Coinbase fell 40% compared to the previous quarter. This decline reflected lower volatility in crypto markets as investors reduced exposure to non-Bitcoin digital assets. The weaker trading activity directly impacted the company’s fee-based revenue model.
Coinbase stock plunged over 16% following the earnings announcement, closing at $314.69. The sharp decline made it one of the worst performers on the S&P 500 for the week. Despite the sell-off, some analysts view the dip as a potential buying opportunity.
Market Conditions Impact Both Stocks
Both Coinbase and Robinhood faced pressure from broader market conditions despite their different earnings outcomes. Robinhood shares fell 3% to $99.90 on the same day as Coinbase’s decline, reflecting risk-off sentiment across markets.

The sell-off coincided with sharp declines in major cryptocurrencies and U.S. stock indexes. Macroeconomic uncertainty and shifting regulatory expectations contributed to the negative sentiment. Both companies remain highly sensitive to crypto market movements and regulatory developments.
Recent congressional victories for crypto-related legislation provided temporary support for both stocks in July. Shares of both companies reached new highs during that period. However, future performance will depend heavily on evolving SEC and global regulatory frameworks.
Siegenthaler ranks as the #82 analyst out of 9,897 tracked by TipRanks. He maintains a 64% success rate with an average return of 18.80% per rating. His best call has been his “Buy” recommendation on Robinhood, assigned in August 2024, which has generated a 438.80% average return.
As of the latest close, Coinbase trades at $314.69 with a market cap of approximately $81.1 billion, while Robinhood closed at $99.90 with a market cap of around $88.9 billion.
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