Analysts Issue Forecasts for Coinbase Global, Inc.’s Q2 2024 Earnings (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) – Stock analysts at HC Wainwright upped their Q2 2024 earnings estimates for shares of Coinbase Global in a research note issued to investors on Monday, April 29th. HC Wainwright analyst M. Colonnese now expects that the cryptocurrency exchange will post earnings per share of $0.71 for the quarter, up from their prior estimate of $0.57. HC Wainwright has a “Buy” rating and a $300.00 price objective on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $2.43 per share. HC Wainwright also issued estimates for Coinbase Global’s Q3 2024 earnings at $0.91 EPS.

A number of other equities analysts also recently issued reports on COIN. Wedbush upped their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Mizuho raised their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Finally, Oppenheimer raised their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $167.81.

Coinbase Global Trading Down 7.7 %

NASDAQ COIN opened at $218.16 on Tuesday. The firm has a market cap of $52.85 billion, a PE ratio of 808.00 and a beta of 3.41. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $232.50 and a 200 day moving average price of $163.08.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the business posted ($2.46) EPS. The firm’s quarterly revenue was up 51.6% on a year-over-year basis.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Caprock Group LLC boosted its position in Coinbase Global by 4.0% during the first quarter. Caprock Group LLC now owns 3,664 shares of the cryptocurrency exchange’s stock worth $971,000 after acquiring an additional 142 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Coinbase Global by 88.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 91,171 shares of the cryptocurrency exchange’s stock valued at $24,171,000 after acquiring an additional 42,817 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Coinbase Global by 36.1% in the 1st quarter. Principal Financial Group Inc. now owns 14,541 shares of the cryptocurrency exchange’s stock valued at $3,855,000 after purchasing an additional 3,855 shares in the last quarter. Benjamin Edwards Inc. raised its position in Coinbase Global by 520.4% in the first quarter. Benjamin Edwards Inc. now owns 1,948 shares of the cryptocurrency exchange’s stock valued at $516,000 after purchasing an additional 1,634 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in Coinbase Global by 130.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,836 shares of the cryptocurrency exchange’s stock valued at $752,000 after purchasing an additional 1,607 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at $4,933,575. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at $4,933,575. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares in the company, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 542,208 shares of company stock valued at $101,867,103. 33.16% of the stock is currently owned by insiders.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.