Citi Downgrades Coinbase (COIN) Price Target to $400 Amid Crypto Market Volatility

Financial giant Citigroup has revised its price target for Coinbase Global, Inc. (NASDAQ: COIN) down to $400 per share. This adjustment follows a significant correction in the company's stock price, which has retreated approximately 65% from its all-time high. The move by Citi analysts reflects heightened caution regarding the crypto exchange's near-term outlook amidst broader market turbulence and regulatory uncertainties. The revised target suggests a tempered but still optimistic long-term view compared to the current trading levels, acknowledging both the operational challenges and the platform's dominant market position. Investors are closely monitoring how major exchanges like Coinbase navigate the evolving digital asset landscape.