Citi updated its price target for Coinbase shares to $400.

Citi's Coinbase Stock Target

Citi has lowered its Coinbase stock price target from $505 to $400. This decision was made after the cryptocurrency markets and Coinbase's stock fell by 65% from their record highs.

The bank also revised its fourth-quarter revenue forecasts downwards by approximately 10%. However, it continues to maintain the stock's "buy/speculative" risk rating.

Regulatory developments are reported to be considered the most significant factor for potential growth.