MORGAN STANLEY DOWNGRADES COINBASE, SLASHES PRICE TARGET TO $120Morgan Stanley downgraded Coinbase ($COIN ) to Underweig | Hanami
MORGAN STANLEY DOWNGRADES COINBASE, SLASHES PRICE TARGET TO $120
Morgan Stanley downgraded Coinbase ($COIN ) to Underweight from Equal-weight, cutting 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 lowered its 2027 revenue forecast by 28% and adjusted EBITDA estimate by 47%.
Q3 revenue of $1.22 billion missed Morgan Stanley's forecast by 6%.(Historical earnings: For 2026Q2 (period ended 2026-06-30), Coinbase reported basic and diluted EPS of -2.85, net income of -USD 0.754 billion, and revenue of USD 2.633 billion.
Consensus expectations: For 2026Q3 (event date 2026-10-29), consensus expects EPS of 0.0671 and revenue of USD 1.221 billion.)