Coinbase Stock Rallies Amid Bitcoin Rebound, But Analysts Cautious on Falling Trading Volumes and User Engagement
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Coinbase stock has rallied 162% YTD amid Bitcoin rebound and potential Bitcoin ETF launch.
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However, analysts cautious due to persistent losses, declining trading volumes, and regulatory concerns.
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Q3 revenue rose but trading volumes fell 52% YoY. Retail monthly transacting users also declining.
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Analysts concerned about slump in retail engagement and its impact on Coinbase's revenues.
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Wall Street has a Hold consensus rating on COIN stock based on mixed analyst views. Average price target implies 5% downside.