Global marketsUpdated November 2
Morgan Stanley downgrades Coinbase.
Coinbase's earnings-recovery picture has gotten murkier: Morgan Stanley points to slower trading and uncertainty in crypto markets after the Binance hack, alongside a softer revenue outlook. Analyst Michael Cyprys downgraded the stock from Equal Weight to Underweight on that basis. He cut the price target from $258 to $120, about 53%. The bank also lowered its 2027 revenue forecast by 28% and adjusted EBITDA estimate by 47%—a sharp reset not just for the share-price target, but for the outlook behind it.
Coverage started November 2
Key Actors
- Binance
- Coinbase
- Morgan Stanley
Coverage
November 2
Cointelegraph8:22 PM
Coinbase hit with 50% price target cut as post-earnings rout deepens
Cointelegraph بالعربي (Cointelegraph Arabic / MENA)8:22 PM
تعرّضت كوينبيس لخفض بنسبة 50% في السعر المستهدف مع تعمّق موجة التراجع بعد الأرباح
Report in Arabic
CoinDesk2:29 PM
Coinbase downgraded at Morgan Stanley; price target slashed 53% on weak earnings outlook