Movement Alert｜Coinbase Global, Inc. Falls 5.08% in Regular Trading, Morgan Stanley Downgrade and Target Cut Pressure Shares

Market Focus03:38

On November 3, Coinbase Global, Inc. fell 5.08% in Regular Trading, trading at $136.25 per share, with turnover of $952 million.

The clearest catalyst was a negative analyst action: Morgan Stanley downgraded the stock to underweight from equal-weight and slashed its price target to $120 from $258.

The bank said Coinbase Global, Inc. faces a softer forward revenue outlook and rising uncertainty in crypto markets, which could make the earnings recovery weaker than previously expected. It also cut its 2027 and 2028 revenue forecasts by 28% and 18%, respectively, citing weaker retail and institutional spot trading volumes. Morgan Stanley further noted that the recent major Binance security breach could continue to weigh on crypto-market confidence, activity, valuation, and earnings expectations for Coinbase Global, Inc..

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