Mizuho: Coinbase selloff overdone despite Bitcoin drop

Coinbase shares fell 20% on Monday and 30% since Feb. 20, amid a broader market decline. Mizuho Securities, maintaining a neutral rating, lowered its price target from $280 to $217, citing lower market multiples. However, analysts noted daily spot trading volume has risen to $5 billion, prompting an increased Q1 revenue estimate to $2.31 billion. While high market volatility supports strong volumes, Mizuho warns of long-term pricing pressure from rising competition and Bitcoin ETFs, The Block reported.