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Still, reduced operating expenses more than offset the revenue miss and contributed to a better adjusted Ebitda figure, said KBW, which has a market perform rating on the stock and a $165 price target. The analysts noted that retail trading volumes were higher than expected but were offset by a compression in the retail fee rate, adding that fourth-quarter commentary was also weak.
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Coinbase’s (COIN) Earnings Miss Makes U.S. Election Even Bigger Catalyst: Analysts
