Coinbase's target price cut from $258 to $120 by Morgan Stanley
Original headline코인베이스 목표주가 258달러에서 120달러로…모건스탠리 하향
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Morgan Stanley downgraded Coinbase (COIN) from Equal-Weight to Underweight on November 2, slashing its price target to $120 from $258. The bank cited weakening trading flows, slowing revenue outlook, and diminished expectations for an earnings rebound following Coinbase's disappointing Q3 results released October 30. Other banks also cut their targets in late October, and Morgan Stanley reportedly pointed to the Binance security breach as a factor driving industry uncertainty and declining trading volumes. Trading activity is a key metric investors use to value the exchange, so lower volumes directly pressure Coinbase's revenue. Watch for whether trading activity stabilizes and how the exchange addresses volume declines ahead of its next earnings report.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
Morgan Stanley (MS), Coinbase (COIN), Binance
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