Coinbase (COIN) Stock Gets a 53% Price Target Cut From Morgan Stanley

TLDR Morgan Stanley cut Coinbase to Underweight from Equalweight. Its price target dropped to $120 from $258, a cut of about 53%. The stock trades near $138, just above its 52-week low of $136.89. The bank lowered 2027 and 2028 revenue and EBITDA forecasts. Q3 net revenue fell 34% to $1.16 billion, while adjusted EBITDA beat estimates. Coinbase (COIN) stock slipped about 4% on Monday and traded near $138 after Morgan Stanley cut its rating. That puts it just above its 52-week low of $136.89. Coinbase Global, Inc., COIN Morgan Stanley moved the stock to Underweight from Equalweight.

Source: CoinCentral