Analysts cut Coinbase targets after weak revenue report

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Wall Street is backing away from Coinbase, and they’re not hiding it. According to CNBC, at least seven major companies have lowered their price targets, and one just slapped a full-on Sell rating on the stock. That came from Compass Point Research, which also cut its target from $330 to $248, over 21% below where Coinbase closed on Friday at $314.69. This comes after Coinbase posted second-quarter results that did nothing to help its case. Earnings per share beat estimates, but total revenue fe...