Citi cuts Coinbase price target by 41%, maintains Buy rating
C Citigroup Inc
$132.32 +4.08%
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- 1Citi lowered its price target on Coinbase (COIN) from $400 to $235, a 41% cut, while keeping its Buy rating
- 2The revision came on July 24, with the analyst citing second-quarter spot trading volumes near a two-year low, viewing it as a cyclical trough
- 3The caution comes after the previous quarter missed revenue estimates and a roughly 29% year-to-date share price decline, ahead of second-quarter results after today's market close
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