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Why Coinbase Global Shares Are Falling

BY Benzinga
— 7:49 AM ET 06/27/2022

Coinbase Global, Inc. NASDAQ:COIN shares are trading lower on Monday following bearish analyst coverage from Goldman Sachs.

Goldman Sachs analyst Will Nance downgraded Coinbase Global from a Neutral rating to a Sell rating and lowered the price target from $70 to $45.

Coinbase provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally.

COIN Price Action: Coinbase Shares were down approximately 5% at $59.50 per share on Monday at the time of publication.

The stock has a 52-week high of $368.90 and a 52-week low of $40.83, according to data from Benzinga Pro.