Coinbase Global stock falls 3% after recent rally, analysts suggest investors taking a breather

From Nasdaq

October 15, 2024 11:33 am:

Shares of Coinbase Global (COIN) are down 3% after a recent rally, rising 15% in the past five days. Analysts suggest investors are taking a breather after bidding up the stock. The company is the world’s second-largest crypto exchange after Binance Holdings, with stock movements correlated to Bitcoin and Ethereum prices.

Cryptocurrencies have been rangebound, with Bitcoin trading between $60,000 and $65,000 since September. BTC reached an all-time high of nearly $74,000 earlier this year before dropping post-halving event in April. Coinbase Global stock is up by 11% this year.

Coinbase Global stock has a Moderate Buy rating from 15 analysts, with an average price target of $258.17, implying a 33.49% upside from current levels.

For more information on analyst ratings on COIN stock, visit the provided link.

Read more at Nasdaq.: Coinbase Global (NASDAQ:COIN) Stock Falls 3% After Big Rally