COINTELEGRAPH · 2026-11-02 20:22 UTC

Coinbase hit with 50% price target cut as post-earnings rout deepens

Morgan Stanley cut Coinbase's price target by 53% from $258 to $120, citing softer revenue outlook and crypto market uncertainty following Binance's $6.3 billion hack. Coinbase reported 34% year-over-year decline in Q3 net revenue to $1.16 billion on Oct. 29, with adjusted net income of $78 million. Analyst Michael Cyprys expects Coinbase's profits to recover more slowly than previously forecast, putting pressure on share price.

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