Coinbase (COIN) fell 2.09% to $249.58 as investors took profits following a strong 7.77% rally the previous day driven by a Goldman Sachs upgrade, reflecting broader weakness in the cryptocurrency market.

  • Analyst sentiment remains constructive, setting an average 12-month price target of $379.32, implying a potential 52% upside from current levels.
  • Valuation concerns persist, however, with Simply Wall Street suggesting COIN is overvalued by 132.6%.
  • Zacks highlights a high P/E ratio of 43.23, significantly above the industry average of 22.97.