A post by @DeItaone on X.
MORGAN STANLEY DOWNGRADES COINBASE, SLASHES PRICE TARGET TO $120
@DeItaone on X
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Morgan Stanley downgraded Coinbase (COIN) to Underweight from Equal-weight and slashed its price target to $120 from $258, a 53% reduction. Analyst Michael Cyprys cited weakening trading activity, a disappointing revenue outlook, and uncertainty following the $6.3 billion Binance hack. The bank cut its 2027 revenue forecast by 28% and its adjusted EBITDA estimate by 47%. Coinbase's Q3 revenue of $1.22 billion missed Morgan Stanley's forecast by 6%. The downgrade signals growing Wall Street caution on crypto exchange fundamentals amid soft trading volumes and security-related uncertainty. Investors will watch Coinbase's upcoming earnings guidance and whether trading activity and the fallout from the Binance hack continue to pressure volumes and revenue.
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Named in this story
Morgan Stanley (MS), Coinbase (COIN), COIN (COIN), Michael Cyprys, Binance
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