Citizens Jmp Lowers Coinbase Global (NASDAQ:COIN) Price Target to $325.00

Coinbase Global (NASDAQ:COIN) had its target price reduced by research analysts at Citizens Jmp from $355.00 to $325.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the cryptocurrency exchange’s stock. Citizens Jmp’s target price would suggest a potential upside of 104.69% from the stock’s previous close.

COIN has been the subject of a number of other reports. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Citigroup reissued a “market outperform” rating on shares of Coinbase Global in a report on Thursday. Monness Crespi & Hardt restated a “sell” rating on shares of Coinbase Global in a research note on Friday, June 5th. BTIG Research restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Wednesday, June 17th. Finally, Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a research report on Monday, June 1st. Eighteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average target price of $251.79.

Coinbase Global Price Performance

NASDAQ COIN opened at $158.78 on Thursday. The firm’s fifty day simple moving average is $175.05 and its two-hundred day simple moving average is $190.72. The firm has a market capitalization of $41.83 billion, a P/E ratio of 59.88, a P/E/G ratio of 5.77 and a beta of 3.35. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global has a 12-month low of $139.18 and a 12-month high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.55). The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. Analysts forecast that Coinbase Global will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the transaction, the chief financial officer owned 377,201 shares of the company’s stock, valued at $75,440,200. The trade was a 2.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $3,181,800. This trade represents a 33.33% 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. Insiders sold 40,647 shares of company stock valued at $7,331,841 in the last 90 days. 16.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Coinbase Global in the 4th quarter worth approximately $656,744,000. Capital World Investors increased its holdings in shares of Coinbase Global by 847.2% during the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after purchasing an additional 1,374,318 shares in the last quarter. Ruffer LLP acquired a new position in shares of Coinbase Global in the 4th quarter valued at $166,515,000. Southpoint Capital Advisors LP acquired a new position in shares of Coinbase Global in the 1st quarter valued at $104,766,000. Finally, Janus Henderson Group PLC boosted its holdings in Coinbase Global by 2,597.8% during the fourth quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange’s stock worth $124,221,000 after buying an additional 528,943 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase received U.K. authorization to provide investment services, allowing it to offer equities and derivatives in addition to crypto in one platform. Investors may view this as a meaningful international growth catalyst and a sign Coinbase is broadening beyond transaction-heavy crypto trading. Coinbase restores prediction markets trading after technical issue
• Positive Sentiment: Coinbase also added new trading features, including margin support for Filecoin and spot trading for Wormhole, which suggests continued product expansion and more ways to drive engagement and fee revenue. Coinbase Filecoin Margin Trading Adds Leverage To The Storage Token Trade
• Positive Sentiment: Analyst commentary ahead of Coinbase’s quarterly report pointed to expectations for strong bottom-line growth, keeping attention on potential earnings upside if trading volumes improve. Coinbase Global Earnings Preview: What to Expect
• Neutral Sentiment: Coinbase restored prediction markets trading after a technical issue briefly prevented users from placing trades. The fix limits lasting damage, but the outage may remind investors that platform reliability remains important as Coinbase expands into more products. Coinbase restores prediction markets trading after technical issue
• Neutral Sentiment: Broader crypto sentiment has been weak, with bitcoin and other major tokens falling on geopolitical tensions. That can weigh on Coinbase because its trading revenue is closely tied to crypto market activity. Bitcoin, Ethereum, XRP, Dogecoin Slide as Trump Warns Iran Strikes Could Get ‘Much Worse’
• Neutral Sentiment: Coinbase-backed Base is gaining traction, with strong DEX volume and a new token standard for stablecoins and tokenized assets. This supports the long-term ecosystem story, but it is still early-stage for earnings impact. Base to activate B20 standard for stablecoins, RWAs and other tokens

About Coinbase Global

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.