Baird Trims Coinbase Price Target Amid Crypto Weakness

Baird, a financial analyst firm, has revised its price target on Coinbase Global Inc. (COIN) to $130 from $142, citing weak Q2 results and disappointing third-quarter trends.

The firm's expectations for the stock were further dampened by a 13.7% quarter-over-quarter revenue decline in Q2, which fell short of analysts' estimates.

Baird also reduced its 2027 earnings per share estimate to $2.92, compared with the Street consensus near $5.00, due to what it calls 'sector-wide crypto weakness.'

The stock has declined 57% over the past year, trading at $163.58.