Morgan Stanley downgraded Coinbase to “Underweight,” with a price target of 120 USD
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Morgan Stanley downgraded Coinbase from “Equal-weight” to “Underweight,” lowering the price target from 258 USD to 120 USD。
Article
Morgan Stanley downgrades Coinbase rating to “Underweight,” lowers price target to 120 USD
PANews November 3 According to Investing.com, Morgan Stanley analyst Michael Cyprys downgraded Coinbase（COIN） from “Equal-weight” to “Underweight,” lowering the price target from 258 USD to 120 USD, a reduction of approximately 53.49%. The analyst said that confidence in Coinbase's earnings recovery has declined, citing recent trading trends, a weakening forward revenue outlook, and uncertainty in the crypto market following the Binance hack. Morgan Stanley noted that Coinbase's third-quarter revenue 1220000000 USD, which was below its estimate by 6%, and lowered 2027 and 2028 revenue forecasts for 28%and 18%。
PANews reported, citing Investing.com, that Morgan Stanley analyst Michael Cyprys downgraded Coinbase（COIN） from “Equal-weight” to “Underweight.”
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Coinbase The price target was lowered from 258 USD to 120 USD, a reduction of approximately, according to the article 53.49%。
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Michael Cyprys said that his confidence in Coinbase's earnings recovery has declined, citing recent trading trends, a weakening forward revenue outlook, and uncertainty in the crypto market following the Binance hack.
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Morgan Stanley noted that Coinbase's third-quarter revenue was 1220000000 USD, below its estimate by 6%。
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Morgan Stanley lowered Coinbase's 2027 and 2028 revenue forecasts for 28%and 18%。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
“Underweight” indicates that the analyst has a relatively cautious view of the stock's future performance; the simultaneous reductions in the price target and future revenue forecasts also reflect weakened confidence in Coinbase's earnings recovery and revenue outlook. This is an analyst opinion and does not mean that the share price will necessarily fall to 120 USD。
Why it matters to readers
The rating, price target, and revenue forecasts were all lowered, which may affect the market's assessment of Coinbase's future growth and earnings recovery.
Beginners should view a price target as an analyst's estimate based on assumptions, rather than a guarantee; they can continue to monitor Coinbase's subsequent revenue, trading trends, and earnings performance.
Risks and unknowns
The main text is PANews’ retelling of Investing.com and does not provide Morgan Stanley’s original research report, so the specific assumptions and full wording cannot be verified.
The headline only states “November 3,” while the main text does not specify the year.
The article does not specify the details of the Binance hack or its actual impact on Coinbase.
The price target and revenue forecasts may change with market and company performance.
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Related concepts
Underweight rating
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