Coinbase price target lowered to $352 from $359 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on Coinbase (COIN) to $352 from $359 and keeps an Equal Weight rating on the shares. The company’s Q2 results came in below Street estimates, driven by a tsales miss and higher spending, and the Q3 guidance was mixed, the analyst tells investors in a research note. The firm believes Coinbase’s tone on the earnings call was “quite optimistic” on future growth opportunities against an improving regulatory backdrop.