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Coinbase downgraded at Morgan Stanely; price target slashed 53% on weak earnings outlook
Morgan Stanley said weaker trading and a $6.3 billion Binance hack make Coinbase’s earnings recovery less certain.
- On Monday, investment bank Morgan Stanley downgraded Coinbase to underweight from equal weight, cutting its price target to $120 from $258—a reduction of about 53%.
- The downgrade follows a roughly $6 billion hack on Binance last week, the largest in crypto history, alongside October's weaker trading pace that challenges the firm's recovery thesis.
- Coinbase reported a roughly 34% year-over-year decline in third-quarter net revenue to $1.16 billion on Oct 29, with fourth-quarter transaction revenue tracking roughly $607 million, about 11% below consensus.
- Shares extended losses on Monday, dropping more than 3.3% to $138, while Circle shares declined more than 9% and Strategy fell about 8% amid sector-wide selling.
- Morgan Stanley's outlook counters Wall Street consensus, where 26 of 41 analysts covering Coinbase maintain buy ratings. Cyprys noted earnings recovery remains "less certain" for 2027.
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CointelegraphReposted by 
The New York Ledger
The New York LedgerMorgan Stanley Sees Greater Downside Risk for Coinbase Shares
Morgan Stanley analyst Michael Cyprys lowered his Coinbase stock forecast from $258 to $120, warning of increased earnings and valuation risks as shares continued to fall.
·New York, United States
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Illustrative image Photo: PexelsMorgan Stanley reduces Coinbase price target from US$ 258 to US$ 120 after weak balance
Coinbase Price Target Cut by 50% After Post-Earnings Selloff
Morgan Stanley has turned more cautious on Coinbase, cutting its stock price target by more than half and warning that the cryptocurrency exchange’s profit recovery could take longer than investors may be pricing in. In a research note dated Monday, analyst Michael Cyprys reduced the Coinbase target from $258 to $120—about a 53% cut—pointing to [...]
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Total News Sources16
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
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