Coinbase Global, Inc. (NASDAQ:COIN) has earned an average recommendation of “Hold” from the thirty-three research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $250.6516.
Several research firms have recently weighed in on COIN. President Capital lifted their price objective on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Sanford C. Bernstein dropped their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Piper Sandler cut their price target on shares of Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research report on Wednesday. Finally, Bank of America dropped their price objective on shares of Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd.
Read Our Latest Stock Report on Coinbase Global
Coinbase Global Stock Down 2.6%
Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. As a group, equities research analysts forecast that Coinbase Global will post 1.74 earnings per share for the current fiscal year.
Insider Buying and Selling at Coinbase Global
In other news, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares of the company’s stock, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider directly owned 517 shares of the company’s stock, valued at $97,718.17. The trade was a 92.75% decrease in their position. 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 90 days, insiders sold 30,647 shares of company stock worth $5,740,941. 16.66% of the stock is currently owned by insiders.
Institutional Trading of Coinbase Global
Institutional investors and hedge funds have recently modified their holdings of the business. Rathbones Group PLC lifted its position in shares of Coinbase Global by 5.1% in the 1st quarter. Rathbones Group PLC now owns 5,188 shares of the cryptocurrency exchange’s stock worth $906,000 after buying an additional 252 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Coinbase Global by 23.9% during the 1st quarter. Parallel Advisors LLC now owns 14,331 shares of the cryptocurrency exchange’s stock valued at $2,502,000 after buying an additional 2,767 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Coinbase Global by 59.4% during the first quarter. Glenmede Trust Co. NA now owns 3,632 shares of the cryptocurrency exchange’s stock worth $634,000 after acquiring an additional 1,354 shares during the period. Axiom Investment Management LLC acquired a new stake in Coinbase Global during the first quarter worth about $218,000. Finally, Summitry LLC bought a new position in Coinbase Global in the first quarter worth about $204,000. 68.84% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting Coinbase Global
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Analysts at multiple firms reaffirmed bullish ratings on Coinbase, with price targets ranging from $220 to $280, signaling confidence in upside from current levels.
- Positive Sentiment: Jefferies said Coinbase’s expansion into tokenized equities and AI could broaden its addressable market and strengthen its “everything exchange” strategy.
- Positive Sentiment: Coinbase launched AI-powered investing tools, including an AI investment adviser, alongside new trading features such as tokenized stocks, pre-IPO exposure, and portfolio transfers, which may improve user engagement and revenue diversification.
- Positive Sentiment: Coinbase’s move into tokenized U.S. equities, dividend-bearing onchain assets, and expanded stock/ETF trading could help it compete more directly with traditional brokerages and fintech platforms.
- Neutral Sentiment: Coinbase-linked political spending and pro-crypto election results, such as the Alabama Senate runoff win backed by a crypto PAC, suggest improving regulatory and political momentum for the industry. Article Title
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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