Coinbase, Robinhood and Figure Stocks Are 60% Off Their Peaks—Bernstein Says Buy the Dip
Why it matters: Bernstein analysts predict a bottom in crypto stocks into weak Q1 earnings, with Coinbase's 2026 EPS estimate cut by 44%.
- Bernstein lowered price targets for Coinbase (COIN) to $330, Robinhood (HOOD) to $130, and Figure (FIGR) to $67, while keeping "Outperform" ratings on all three.
- Coinbase's spot volumes are tracking 30% below Q4 2025 levels, leading Bernstein to cut its 2026 EPS estimate by 44% to $5.97, despite a projected 26% revenue CAGR through 2027.
- Robinhood's prediction markets revenue is projected to surge 286% to $586 million in 2026, partly offsetting crypto trading weakness, with Motley Fool suggesting it could be a "Top Growth Stock" to double money.
- Figure, a pure-play blockchain tokenization platform, crossed $1 billion in monthly loan origination volume in March and is expanding into auto loans and tokenized equities, with Motley Fool also highlighting it as a potential "Top Growth Stock."
- All three stocks are trading roughly 60% below their 2025 peaks, presenting a "buy the dip" opportunity for exposure to future growth in stablecoins, crypto derivatives, and tokenized real-world assets.
Despite significant price target cuts for Coinbase, Robinhood, and Figure Technology Solutions, Bernstein maintains "Outperform" ratings, viewing their current 60% dip from 2025 peaks as a buying opportunity in trillion-dollar markets like prediction markets and tokenized assets. While Coinbase faces a 44% cut to its 2026 EPS estimate due to weak crypto volumes, Robinhood and Figure are seen as more resilient, with Robinhood's prediction markets projected to surge 286% and Figure expanding its blockchain tokenization beyond home equity.
