Compass Point downgraded Coinbase (COIN) to Sell from Buy with an $180 price target as the firm transferred coverage of the stock. The firm is cautious heading into Q1 results on May 8 and also concerned about second half performance as growth comes from lower margin institutional segments. Shares have reacted negatively to the company’s three most recent earnings results and the firm expects this streak to continue after “disappointing” Q1 results and Q2-to-date commentary, the new analyst tells investors.
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