Coinbase Global falls 5% as Morgan Stanley downgrades to Underweight
Market Movers·
- Coinbase Global hit a 52 - week low intraday, trading at 136.84 dollars with a nearly 5% daily drop.
- Morgan Stanley downgraded Coinbase from equal - weight to underweight, slashing its price target from 258 dollars to 120 dollars.
- Barclays also lowered its price target to 120 dollars while maintaining an underweight rating, following the company's weaker - than - expected Q3 revenue of 1.216 billion dollars.