"Monness Crespi & Hardt downgraded $COIN from "buy" to "neutral," citing downside risk tied to weakening crypto market conditions. The firm set a price target of $120, implying more than 20% downside from recent trading levels. The downgrade comes as the stock has struggled in early 2026 amid a broader pullback in digital assets. COIN opened Thursday around $153, down nearly 10% from intra-week highs, and is now off roughly 34% since the start of the year."
"JPMorgan recently cut its Coinbase price target by 27%, pointing to lower spot trading volumes, declining crypto market capitalization, and weakening stablecoin activity, including softer USDC circulation. "We view global crypto spot trading as highly fragmented, with dozens of smaller players threatening Coinbase's market share," JPMorgan analysts wrote in a note shared with Decrypt, warning that Coinbase could lose the "regulated monopoly" it has enjoyed as the only major publicly traded crypto exchange for several years."
Shares of Coinbase fell amid a weakening crypto market and reports of insider selling. Monness Crespi & Hardt downgraded COIN to neutral and set a $120 price target, implying over 20% downside. COIN traded around $153, down nearly 10% from intra-week highs and about 34% since the start of the year. Bitcoin has declined roughly 30% over the past month and major altcoins have dropped more sharply, reducing trading volumes across the sector and squeezing Coinbase's core trading revenue. Multiple Wall Street firms trimmed targets while consensus sentiment remains Moderate Buy.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]