Needham Lowers COIN Price Target

Needham & Company LLC has lowered its expectations for Coinbase Global's stock price to $177.00, down from $220.00.

The brokerage currently maintains a 'buy' rating on the cryptocurrency exchange's stock and sees a potential upside of 8.20% from the current price.

Several other research firms have also commented on COIN, with Benchmark reissuing a 'buy' rating and Sanford C. Bernstein reissuing an 'outperform' rating.

Eighteen equities research analysts have rated the stock with a 'Buy' rating, twelve have issued a 'Hold' rating, and three have assigned a 'Sell' rating to Coinbase Global's stock.