Coinbase Global shares are trading lower Barclays upgraded the stock from Underweight to Equal-Weight and lowered its price target from $206 to $169. Also, the company may be trading lower amid overall market weakness and a drop in the price of Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Coinbase Global shares are trading lower despite Barclays upgrading the stock from Underweight to Equal-Weight and lowering its price target from $206 to $169. The decline may be due to overall market weakness and a drop in Bitcoin prices.
September 06, 2024 | 5:36 pm
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NEGATIVE IMPACT
Coinbase shares are down despite an upgrade from Barclays, which adjusted its rating to Equal-Weight and lowered the price target to $169. The decline is likely influenced by market weakness and Bitcoin's price drop.
The downgrade in price target from Barclays, despite an upgrade in rating, suggests mixed sentiment. The overall market weakness and Bitcoin's price drop are likely contributing to the negative sentiment, impacting COIN's short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100