![]() ![]() With these factors in mind, we’re concerned the outlook for rest of FY23 may have deteriorated incrementally despite strength in crypto asset prices over the past month.Ĭoinbase Global Inc is expected to lose 84 cents a share in its current financial quarter versus $4.95 per share a year ago.Īlso on Wednesday, famed investor Cathie Wood trimmed her stake in the crypto exchange. Cathie Wood trims her stake in CoinbaseĬlinch recommends moving to the sidelines in Coinbase stock also because the USDC market cap has declined which will affect the company’s interest income. The Nasdaq-listed firm also added an instant messaging feature to its wallet on Wednesday. The Securities and Exchange Commission sued Coinbase Global Inc last month for violating the U.S. The risk/reward looks less attractive at this level given continued regulatory challenges ahead and the surprisingly weak volume backdrop. In his research note, the analyst cited valuation and ongoing regulatory scrutiny as reasons for turning dovish on Coinbase stock. His $80 price target warns of a 10% downside from its previous close. On Wednesday, Clinch downgraded the crypto exchange to “neutral”. Investors should pull out of Coinbase Global Inc now that it’s rallied more than 150% since the start of this year, says Simon Clinch – an Atlantic Equities analyst. ![]() ![]()
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