The price target of the coinbase has been reduced by bofa as analysts have warned of increasing competition and fee pressure.
Bofa Securities has reduced its price target for coinbase global ink. Has held a hold rating on stock to $ 363 to $ 311.
Bank of America Securities analyst Mark McLoglin CFA said the move follows the strong earning report of the coinbase, which is a favorable crypto market and has increased on-chain activity, but there are concerns that it is that it How long will the speed last, tipranx Reports
The analyst stated that rising competition may push down fees, which may probably hurt the short -term profits of the coinbase.
McLaglin also reported that while the US Securities and Exchange Commission has left its case against the coinbase, there are still risks. In 2023, the SEC accused the coinbase of conducting an unregistered securities exchange and offering unregistered securities.
The case against the coinbase was one of the largest crypto-related enforcement operations of the Commission under former president Gary Gensler.
Analysts note that the exchange still depends a lot on transactions revenue, and traditional financial institutions entering space can bring new competition. According to Google Finance data, after the price target cut, Coinbase’s shares fell 5.46% to 5.46% to $ 215.85.
For the coinbase, the adjustment also comes as a crypto market, which in the last 24 hours, with a liquidity of $ 1.49 billion per data to the coating, faces turbulance. Bitcoin has fallen below $ 89,000, the lowest level since Q4 2024. Matrixport analysts warned that the decline may continue, with especially limiting the demand for dip-cakes with low commercial activity.
As Crypto.news had previously reported, the spot analysts on the chain also warns that the atherium “may grow for its worst February,” as a macroeconomic uncertainty, under pressure, including new tariffs from Trump administration, under pressure ” Connects. “
