These 10 Firms Were Heavily Hit on Friday

7. Coinbase Global Inc. (NASDAQ:COIN)

Coinbase Global saw its share prices decline by 7.98 percent on Friday to end at $274.31 each after an investment research firm slashed its target price for the company amid expected headwinds in its revenue model.

On Friday, CFRA analyst Michael Elliott lowered his price target for COIN by 3 percent to $325 from $335 previously, while maintaining a “hold” rating.

According to the analyst, COIN benefits from significant regulatory tailwinds, but also underscored concerns about its revenue model, with 61 percent of total revenue being transactional, which ties it closely to the fluctuating prices of underlying cryptocurrency tokens.

According to Elliott, the revision reflects a slight decrease in the 12-month target based on an enterprise value-to-sales ratio of 10.7 times CFRA’s 2025 sales estimate.

Despite the numbers, CFRA raised its earnings per share target for the company to $6.32 for 2025 and introduced a $7.06 EPS target for 2026.