Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,051 shares of Coinbase Global stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Stock Down 4.1%
Shares of COIN stock traded down $6.61 on Tuesday, hitting $155.50. The stock had a trading volume of 8,845,303 shares, compared to its average volume of 11,336,494. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $185.83 and a 200 day moving average price of $206.49. The company has a market cap of $40.97 billion, a PE ratio of 58.46, a P/E/G ratio of 5.28 and a beta of 3.32. Coinbase Global, Inc. has a one year low of $139.36 and a one year high of $444.64.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business’s revenue was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 1.77 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Coinbase Global
More Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase executive John D’Agostino said institutional investors, family offices, and sovereign wealth funds are happy to buy Bitcoin at lower prices, suggesting large buyers are still accumulating during the downturn. Institutions Don’t Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec
- Positive Sentiment: Coinbase is reportedly launching a payment card with Cardless that would let stablecoin holders use crypto as collateral, expanding the company’s product set and potentially opening a new revenue stream. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
- Positive Sentiment: Industry momentum around the Clarity Act and other U.S. crypto market-structure bills could benefit Coinbase by improving the regulatory backdrop for trading and derivatives. Over 200 Crypto Groups Urge Senate Clarity Act Vote
- Neutral Sentiment: OKX expanded tokenized stock and commodity perpetuals in Europe, highlighting rising competition in regulated crypto derivatives, an area Coinbase is also trying to grow into. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures
- Neutral Sentiment: Short-interest data showed no meaningful change in positioning, with the reported figures appearing inconsistent and unlikely to be a major trading driver.
- Negative Sentiment: Coinbase’s stock remains sensitive to Bitcoin’s weakness and broader crypto risk-off trading, which has pressured sentiment across crypto-linked equities.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a report on Wednesday, May 6th. Rothschild & Co Redburn lifted their price objective on Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Cantor Fitzgerald lifted their price objective on Coinbase Global from $221.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Jefferies Financial Group lifted their target price on Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research note on Thursday, April 9th. Finally, BTIG Research cut their target price on Coinbase Global from $340.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $250.23.
Check Out Our Latest Report on Coinbase Global
Coinbase Global Company Profile
Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.
Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.
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