JPMorgan Cuts PT on Coinbase Global (COIN) to $290 From $399

Group 1 - Coinbase Global, Inc. (NASDAQ:COIN) is considered one of the most oversold NASDAQ stocks, with multiple firms revising their price targets ahead of the fiscal Q4 report [1][2][3] - JPMorgan cut its price target for Coinbase to $290 from $399, while Citi reduced its target to $400 from $505, both maintaining positive ratings [1][2] - BTIG revised its price target to $340 from $420, noting that the stock has fallen 49% since the Q3 report, compared to a 32% decline in the total crypto market cap [2][3] Group 2 - BTIG sees an attractive entry point for Coinbase at current share levels, highlighting the company's efforts to create a "flywheel" effect between its trading business and digital asset applications [3] - The upcoming fiscal Q4 report is expected to show revenue diversification beyond "volatile" transaction revenues [3] - Coinbase provides a platform for customers to engage with crypto assets and offers services to consumers, institutions, and developers [4]