BTIG Slashes Coinbase Price Target to $340 Ahead of Earnings Amid Regulatory and Crypto Market Pullback

BTIG maintained its Buy rating on Coinbase (COIN) but significantly lowered the price target from $420 to $340 ahead of the company's Q4 earnings report, causing the stock to trade lower.

• The multi-day slide in COIN is largely attributed to a broad pullback across major cryptocurrencies.
• Bitcoin was noted trading around $73,000 amid the market weakness.
• The company continues to face regulatory hurdles, including a civil lawsuit from Nevada’s gaming regulator.