Banks cut Coinbase price targets after weak Q4 start
BROBROK News · Based on reporting by BeInCrypto Brasil ·
Seven Wall Street firms lowered their price targets for Coinbase shares after a weak start to the fourth quarter. The company’s trading-fee revenue was about $165 million through October 25, and the stock fell 6% in premarket trading to $150.75.
Key points
- Seven banks revised their COIN targets lower.
- The cuts followed a weak start to the fourth quarter.
- Trading-fee revenue reached about $165 million through October 25.
- Coinbase shares dropped 6% in premarket trading to $150.75.
Why it matters
Coinbase is a key public-market proxy for crypto trading activity, so analyst cuts can signal weaker near-term conditions for the sector. The update also points to pressure on fee-driven revenue tied to trading volumes.
Original headline: “Bancos cortam preço-alvo da Coinbase após início fraco do quarto trimestre”
Read the original on BeInCrypto Brasil
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.