Gate News reports that after a decline of approximately 46% from its peak in October 2025, Goldman Sachs analyst James Yaro believes that the sector is gradually revealing structural opportunities and maintains a “buy” rating on certain stocks.
The report indicates that the current drop is close to the average pullback seen in historical crypto cycles. While recent price fluctuations still exist, signs of stabilization have emerged, showing that the previous passive selling pressure is weakening. Against this backdrop, Goldman Sachs has selected Robinhood Markets (HOOD), Figure Technologies (FIGR), and COIN as key focus companies.
In terms of valuation, these targets are nearing historical lows. Goldman Sachs has lowered the target price for HOOD from $102 to $91 and for COIN from $270 to $235, while raising the target price for FIGR to $42, corresponding to approximately 35% upside potential. Data shows that as of the end of March 2026, both HOOD and COIN have experienced significant pullbacks this year, and market sentiment remains cautious.
On the fundamental side, Robinhood recently launched a $1.5 billion stock repurchase plan, demonstrating management’s confidence in the company’s long-term value. Figure Technologies continues to expand its on-chain financial services, having issued over $16 billion in home equity loans, strengthening its capabilities in the blockchain finance sector.
However, Goldman Sachs also warns that trading volumes have not fully recovered and may decline further in the short term. If trading activity continues to weaken, it is expected that the revenues of related companies may decline by approximately 2% in 2026, with profits under pressure by about 4%. Historical experience shows that low trading volume cycles typically last for several months before a significant rebound occurs.
In the current phase, where macro and market environments intertwine, while crypto concept stocks are relatively undervalued, volatility remains high. The subsequent trend will depend on the recovery of market liquidity and the price performance of core assets like Bitcoin, as well as developments in blockchain finance.
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