Coinbase price target lowered to $107 from $140 at Barclays

Barclays lowered the firm’s price target on Coinbase (COIN) to $107 from $140 and keeps an Underweight rating on the shares. The company’s Q1 revenue and adjusted EBITDA missed estimates meaningfully in the quarter, and quarter-to-date transaction revenues, even with prediction markets and retail derivatives revenues above expectations, also came in well below Street expectations, the analyst tells investors in a research note.