Barlow cuts Coinbase target to $120 on fee lag

Community Trust Score Verified 91 % Real Verified 34 votes Updated 41 seconds ago Seven Wall Street firms cut their Coinbase (COIN) price targets on Friday following a slow start to the fourth quarter, with trading fees reaching only about $165 million through October 25. The stock fell 6% to $150.75 before the open on the news. The reductions reflect a decline in crypto trading activity, which drives the majority of Coinbase’s revenue. Trading fees accounted for nearly half of the company’s $1.22 billion in third-quarter revenue.

Source: The Currency Analytics