Street forecasts for Coinbase stock are too optimistic, leading to lower earnings expectations

From Investing.com
July 19, 2024 11:56am:

Needham & Company analysts caution that street forecasts for Coinbase are too optimistic, adjusting projections due to challenging conditions. Retail engagement in crypto is declining, leading to losses for new entrants and lower earnings expectations for the company. Despite near-term challenges, Needham maintains a Buy rating on Coinbase with a price target of $260. They see long-term potential given positive factors expected in the future, such as regulatory developments and new investment opportunities. Overall, Coinbase remains a compelling investment within the crypto asset market.

Read more at Investing.com: Street forecasts on Coinbase stock are ‘too bullish’: Needham By Investing.com