Coinbase Global Stock Price Target Lowered Amid Regulatory Risks and Market Pressure

Coinbase Global's (NASDAQ:COIN) stock price target has been reduced by Sanford C. Bernstein from $440.00 to $330.00 in a recent report. The cryptocurrency exchange's stock currently carries an outperform rating from the firm.

The analyst also mentioned that the company faces regulatory risks, specifically related to the proposed ban on passive stablecoin yield under the CLARITY Act. This could potentially impact Coinbase's stablecoin-related revenue, estimated to be around $1.35B annually by some counts.