Coinbase Global (NASDAQ:COIN – Get Free Report)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $212.00 price target on the cryptocurrency exchange’s stock. Cantor Fitzgerald‘s target price suggests a potential upside of 32.01% from the company’s current price.
A number of other research analysts also recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Friday, July 31st. UBS Group set a $155.00 price objective on Coinbase Global in a research note on Friday, July 31st. Jefferies Financial Group reissued a “hold” rating and set a $174.00 price objective on shares of Coinbase Global in a report on Friday. Oppenheimer decreased their target price on Coinbase Global from $209.00 to $193.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $300.00 target price on shares of Coinbase Global in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $219.60.
View Our Latest Research Report on Coinbase Global
Coinbase Global Price Performance
Shares of NASDAQ:COIN opened at $160.59 on Friday. The company has a market capitalization of $42.37 billion, a P/E ratio of -41.82 and a beta of 3.41. The company’s 50-day moving average is $180.32 and its 200 day moving average is $179.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. Coinbase Global has a fifty-two week low of $139.11 and a fifty-two week high of $361.40.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%. The business’s revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.14 EPS. On average, equities research analysts forecast that Coinbase Global will post -0.47 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Frederick Wilson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total value of $1,789,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 6,838 shares of Coinbase Global stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $198.00, for a total value of $1,353,924.00. Following the completion of the transaction, the director owned 1,108,972 shares of the company’s stock, valued at approximately $219,576,456. This trade represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 127,188 shares of company stock worth $23,029,558. Insiders own 16.66% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in COIN. Bank of New York Mellon Corp bought a new stake in Coinbase Global during the second quarter valued at $142,995,000. Southpoint Capital Advisors LP bought a new position in Coinbase Global in the 1st quarter worth about $104,766,000. National Pension Service raised its holdings in shares of Coinbase Global by 117.1% in the 2nd quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock valued at $93,784,000 after acquiring an additional 346,045 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Coinbase Global by 103.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 314,338 shares of the cryptocurrency exchange’s stock valued at $58,889,000 after acquiring an additional 159,636 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Coinbase Global by 1.8% in the 1st quarter. California State Teachers Retirement System now owns 324,386 shares of the cryptocurrency exchange’s stock valued at $56,641,000 after acquiring an additional 5,758 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Key Headlines Impacting Coinbase Global
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, reversing a mult quarter losing streak and exceeding analysts’ expectations. Operating expenses fell 13% sequentially, helping profitability. Coinbase Q3 earnings
- Positive Sentiment: Prediction markets surpassed $200 million in annualized revenue, Coinbase One subscribers reached a record, and subscription and services revenue increased 3% sequentially to $570.2 million. These trends support management’s strategy of diversifying beyond spot-crypto trading. Prediction markets growth
- Positive Sentiment: Coinbase added Ripple’s RLUSD stablecoin across its retail, exchange and institutional platforms, potentially increasing stablecoin-related activity and revenue. It also applied for authorization under Brazil’s new crypto rules and expects no service disruption while its application is reviewed. RLUSD availability
- Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating and assigned a $200 price target, implying considerable upside from the reference price. Rosenblatt rating
- Neutral Sentiment: Coinbase CEO Brian Armstrong said quantum computing represents a more serious long-term cryptocurrency security threat than artificial intelligence. He characterized the issue as a matter of “when, not if,” though it is not an immediate earnings driver. Armstrong on quantum computing
- Negative Sentiment: Revenue was about $1.216 billion, down roughly 35% from a year earlier. Transaction revenue was approximately $590 million, while fourth-quarter subscription and services guidance of $550 million to $630 million suggests limited near-term acceleration. Coinbase profit composition
- Negative Sentiment: Approximately $715 million of the quarterly profit came from gains on Coinbase’s cryptocurrency holdings, making the headline earnings figure less representative of recurring operating performance. Coinbase crypto gains
- Negative Sentiment: A security incident at analytics vendor Amplitude exposed contact information for a small subset of customers. Coinbase said its systems and customer funds were not compromised, but the incident could increase reputational and fraud concerns. Customer contact-data incident
- Negative Sentiment: Reported insider activity has been overwhelmingly selling, including planned sales by senior executives and founders, which may weigh on sentiment despite not changing the company’s fundamentals directly.
Coinbase Global Company Profile
Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.
The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.
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