Compass Point Downgrades Coinbase Target Price to $177

Compass Point analyst Ed Engel has upgraded his rating for Coinbase (COIN.US) to hold, reducing the target price from $230 to $177. According to TipRanks data, Engel's success rate stands at 39% and he has delivered an average return of -4.7% over the past year.

The analyst's performance is represented by a 2-star rating on TipRanks, indicating moderate success in his recommendations. Coinbase's stock price has been impacted by recent market volatility, with some analysts predicting a possible decline in value due to regulatory pressures and increased competition from other crypto exchanges.