COIN Stock Price Extends Fall Despite Coinbase Adding 18,000 Bitcoin

Key Insights Coinbase (COIN) stock price traded lower as its Bitcoin treasury passed 18,000 BTC. Coinbase reported $2.51 in GAAP earnings per share and $718.7 million in net income. Morgan Stanley cut its COIN target to $120, while Barclays also set a $120 target. COIN stock fell today, even as the company disclosed a Bitcoin treasury milestone. The Coinbase stock price closed at $143.54 on Friday, while analysts lowered targets and executives disclosed possible share sales. Coinbase had also released third-quarter results one day earlier, beating earnings estimates but missing revenue forecasts.