Coinbase Global (NASDAQ:COIN – Free Report) had its target price reduced by Wells Fargo & Company from $200.00 to $174.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the cryptocurrency exchange’s stock.
Several other brokerages have also recently weighed in on COIN. Robert W. Baird upped their target price on Coinbase Global from $130.00 to $205.00 and gave the stock a “neutral” rating in a report on Monday, September 28th. The Goldman Sachs Group restated a “buy” rating and set a $244.00 price target on shares of Coinbase Global in a research note on Wednesday, October 7th. Oppenheimer decreased their price objective on Coinbase Global from $209.00 to $193.00 and set an “outperform” rating for the company in a report on Friday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Coinbase Global from $148.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Finally, Compass Point reissued a “neutral” rating and set a $187.00 target price on shares of Coinbase Global in a research report on Friday, October 9th. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $216.57.
Get Our Latest Report on Coinbase Global
Coinbase Global Price Performance
Shares of COIN stock opened at $143.54 on Friday. The firm has a market capitalization of $37.87 billion, a P/E ratio of -50.72 and a beta of 3.41. Coinbase Global has a 52-week low of $136.89 and a 52-week high of $361.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a 50 day moving average price of $179.74 and a 200 day moving average price of $178.82.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released 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 firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a positive return on equity of 0.76% and a negative net margin of 12.46%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.14 earnings per share. As a group, sell-side analysts predict that Coinbase Global will post -0.47 earnings per share for the current year.
Insiders Place Their Bets
In other Coinbase Global news, CFO Alesia J. Haas sold 39,030 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $205.24, for a total value of $8,010,517.20. Following the completion of the sale, the chief financial officer owned 345,376 shares of the company’s stock, valued at approximately $70,884,970.24. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total value of $1,789,300.00. 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 valued at $23,029,558. 16.66% of the stock is owned by corporate insiders.
Institutional Trading of Coinbase Global
A number of institutional investors have recently bought and sold shares of COIN. NBT Bank N.A. purchased a new position in shares of Coinbase Global in the third quarter worth $28,000. Glen Eagle Advisors LLC raised its stake in Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Archer Investment Corp lifted its position in Coinbase Global by 546.4% during the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 153 shares during the period. Root Financial Partners LLC acquired a new stake in Coinbase Global during the 3rd quarter worth about $37,000. Finally, Kings Path Partners LLC acquired a new stake in Coinbase Global during the 3rd quarter worth about $37,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.
Coinbase Global News Roundup
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, exceeding expectations and ending a three-quarter losing streak. Lower operating expenses and gains on the company’s crypto holdings were major contributors. Coinbase net income surges 66% in third quarter
- Positive Sentiment: Coinbase is diversifying beyond spot crypto trading: subscription and services revenue represented about 49% of net revenue, while prediction markets surpassed a $200 million annualized revenue run rate. Management is also targeting stablecoins, tokenized assets and AI-agent payments. Coinbase Q3 earnings call highlights
- Positive Sentiment: The Binance breach could create an opportunity for Coinbase to attract customers seeking a regulated exchange and stronger custody safeguards. Several analysts retained bullish ratings, including HC Wainwright, BTIG and Cantor Fitzgerald. Binance hack could benefit Coinbase
- Neutral Sentiment: Goldman Sachs maintained a Buy rating but reduced its price target to $210, while Needham lowered its target to $197. These targets imply substantial upside but reflect increased near-term uncertainty.
- Neutral Sentiment: Coinbase said customer funds remained safe after an analytics-vendor incident involving contact information for a small subset of customers. The exchange also applied for authorization to continue operating under Brazil’s new crypto rules. Coinbase customer funds statement
- Negative Sentiment: Total revenue fell about 35% year over year to $1.22 billion, while transaction revenue declined sharply as crypto spot-trading volume weakened. Early fourth-quarter transaction revenue also suggested that trading conditions had not materially improved. Weak trading revenue pressures Coinbase
- Negative Sentiment: Investors questioned the quality of the profit because roughly $715 million came from crypto investment gains, leaving adjusted net income near $78 million. Barclays cut its rating to Underweight and lowered its price target to $120; Wells Fargo also reduced its target to $174.
- Negative Sentiment: The Binance hack triggered a broad crypto-equity selloff and raised concerns about stablecoin concentration and control risk, as Circle froze approximately $800 million in USDC and Coinbase reportedly holds nearly 30% of outstanding USDC. Insider sales have also added pressure, with no reported open-market purchases in the past six months. Coinbase USDC concentration
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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