Analysts ‘Encouraged’ by Coinbase Layoffs, Showing Company Is Being Financially Disciplined

Mizuho Downgrades Crypto Exchange Coinbase to ‘Underperform,’ Cuts Price Target to $30

Meanwhile, asset manager Needham, which expects COIN to trade at $73 by the end of the year and kept the stock at a buy rating, wrote in a note Tuesday that the company’s headcount reductions are a “necessary step” given the uncertain volume picture this year, but said investors should remain cautious about the continuing fallout from FTX’s collapse.

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