Coinbase Global, Inc. (NASDAQ:COIN) Given Average Recommendation of “Hold” by Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus recommendation of “Hold” from the thirty-two research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $215.1103.

A number of equities research analysts have recently commented on the company. Wolfe Research set a $325.00 price objective on Coinbase Global in a research report on Thursday, July 9th. Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. HC Wainwright reiterated a “buy” rating and issued a $265.00 price target on shares of Coinbase Global in a research report on Friday, July 31st. Barclays dropped their target price on shares of Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Finally, Oppenheimer dropped their price target on Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st.

Check Out Our Latest Report on Coinbase Global

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 35,068 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $144.32, for a total transaction of $5,061,013.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the transaction, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,695 shares of company stock worth $10,388,854 over the last quarter. Company insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. L2 Asset Management LLC grew its holdings in Coinbase Global by 5.0% during the third quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock worth $326,000 after buying an additional 46 shares in the last quarter. Ancora Advisors LLC lifted its stake in Coinbase Global by 4.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock valued at $396,000 after acquiring an additional 51 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Coinbase Global by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange’s stock worth $863,000 after acquiring an additional 53 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Coinbase Global by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,720 shares of the cryptocurrency exchange’s stock worth $389,000 after acquiring an additional 56 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of Coinbase Global by 1.5% in the fourth quarter. MGO One Seven LLC now owns 4,321 shares of the cryptocurrency exchange’s stock valued at $977,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $145.41 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $160.66 and its 200 day moving average price is $178.50. Coinbase Global has a 52-week low of $139.11 and a 52-week high of $402.16. The firm has a market cap of $38.31 billion, a P/E ratio of -37.87, a PEG ratio of 42.15 and a beta of 3.36.

Coinbase Global (NASDAQ:COINGet Free Report) last released its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The business 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 firm’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 firm earned $5.14 earnings per share. As a group, sell-side analysts predict that Coinbase Global will post -0.05 earnings per share for the current fiscal year.

Key Headlines Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

  • Positive Sentiment: Coinbase launched access to nearly 4,000 U.S. stocks for eligible U.K. customers, including fractional shares, zero-commission trading and funding through pounds or USDC. The move expands Coinbase beyond cryptocurrency trading and could create new revenue opportunities over time. Coinbase Brings Nearly 4,000 US Stocks to UK Users
  • Positive Sentiment: Ark Invest, led by Cathie Wood, reportedly bought nearly $10 million of Coinbase and Circle shares after the recent crypto selloff. The purchases may signal confidence in COIN’s long-term valuation, although they do not change the company’s near-term fundamentals. Cathie Wood Buys the Dip in Coinbase and Circle
  • Neutral Sentiment: Coinbase CEO Brian Armstrong continues lobbying for the CLARITY Act, which the company says would establish clearer crypto regulations. However, prediction-market odds and new Republican opposition suggest a vote or enactment this year is becoming less likely, delaying a potentially important regulatory catalyst. As Chance of Crypto Bill Vote Fades, Coinbase Stock Could Feel More Pain
  • Negative Sentiment: Coinbase’s second-quarter results showed a $1.36 per-share loss versus the expected $0.44 loss, while revenue of $1.22 billion missed estimates and fell 18.5% year over year. The sharp reversal from a year-earlier profit reinforces concerns about crypto trading activity and earnings volatility. Coinbase Q2 Loss and Cathie Wood Buying
  • Negative Sentiment: Zacks added COIN to its Rank #5 “Strong Sell” list, adding to bearish technical and fundamental sentiment. Separately, Cantor Fitzgerald lowered its Coinbase price target to $184, while a director sold 35,068 shares worth approximately $5.1 million under a pre-arranged Rule 10b5-1 plan. New Strong Sell Stocks for August 6th

About Coinbase Global

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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.

Further Reading

Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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