Coinbase Crypto Momentum Stalls, Valuation Stretches: Cut to Sell at Compass Point
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最新报道：Compass Point downgraded Coinbase (COIN) to a sell rating and slashed its year-end price target from $330 to $248, citing weak Q2 earnings, declining retail interest in crypto equities, and rising stablecoin competition. Despite a modest rebound to $316, COIN faces headwinds from underwhelming subscription revenue and tech-related fee declines. Analysts warn of overvaluation, with shares trading at 44x projected EBITDA amid ETF and DeFi competition. The crypto market's stalled momentum, reduced retail engagement, and regulatory uncertainty further pressure Coinbase, while the CLARITY Act's passage this year appears unlikely. The firm's potential stock trading expansion is seen as insufficient to offset challenges.
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