Coinbase falls as Argus downgrades to 'hold' on expected slower growth
Shares of crypto trading exchange Coinbase COIN.O fall as much as 5% to $243.18 in early morning trading
Argus Research downgrades COIN's rating to "hold" from "buy"
Brokerage believes the stock price already discounts much of the good news, despite being added to the S&P 500 and strong recent results
Argus expects slower growth and cuts its 2026 EPS estimate to $6.55 from $9.56, and its long‑term earnings growth forecast to 10%
"Management spends aggressively on R&D and acquisitions, and we expect recent investments to raise expenses over the coming quarters," Argus Research says
23 of 38 brokerages rate the stock "buy" or higher, 14 "hold" and 1 "sell" or lower; their median PT is $400 - data compiled by LSEG
Including session's moves, COIN stock is down ~2% YTD
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