Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Rating of “Hold” by Analysts

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned an average recommendation of “Hold” from the thirty-two analysts that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $216.8690.

COIN has been the topic of several research analyst reports. B. Riley Financial reduced their price objective on Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research note on Monday, June 1st. Monness Crespi & Hardt reissued a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Raymond James Financial initiated coverage on shares of Coinbase Global in a research report on Wednesday, July 22nd. They issued a “market perform” rating on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a report on Wednesday, June 17th. Finally, Piper Sandler dropped their price objective on shares of Coinbase Global from $155.00 to $146.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st.

Key Coinbase Global News

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

• Positive Sentiment: Webull partnership expands Coinbase’s international reach: Webull plans to launch crypto trading in Canada using Coinbase’s Crypto-as-a-Service infrastructure, including trading, custody, liquidity and support for assets such as Bitcoin, Ether and Solana. The deal adds Canadian customers and potential recurring infrastructure revenue while extending Coinbase’s existing relationship with Webull in other markets. Webull expands crypto trading into Canada through Coinbase collaboration
• Positive Sentiment: Crypto-linked stocks attracted buying interest: Coinbase climbed alongside Circle and other digital-asset equities, despite weaker recent Bitcoin and Ethereum prices. The rally followed reports that Bitmine’s Ether holdings were approaching 5% of total supply, reinforcing investor interest in crypto-treasury strategies and related companies. Crypto-linked equities rally
• Positive Sentiment: Analyst and investor optimism improved: ARK Invest’s Cathie Wood remains bullish on Coinbase, while technical analysis identified a double-bottom breakout. A sustained move above $193.81 could signal a longer-term base formation, with a potential technical target near $239.60. Coinbase Stock Forecast: COIN Breakout Could Target $239.60
• Neutral Sentiment: Coinbase is broadening its product and institutional offerings: The company is adding leveraged perpetual futures to its Base app and providing custody for large Bitcoin transfers from Metaplanet. These initiatives could increase trading and custody revenue, although the products also carry execution, compliance and risk-management considerations. Coinbase adds perpetual futures to Base
• Negative Sentiment: Market and leverage risks remain: Bitcoin and Ethereum weakness could pressure transaction activity and sentiment, while highly leveraged perpetual-futures trading may increase regulatory, volatility and customer-loss risks. Coinbase’s latest reported quarter also showed an EPS miss and year-over-year revenue decline, underscoring the stock’s sensitivity to crypto-market conditions.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 2,062 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total value of $5,061,013.76. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,181 shares of company stock valued at $7,365,482 over the last ninety days. Corporate insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in Coinbase Global by 14,352.9% in the 2nd quarter. California State Teachers Retirement System now owns 46,883,279 shares of the cryptocurrency exchange’s stock worth $6,853,867,000 after purchasing an additional 46,558,893 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter worth about $656,744,000. Capital World Investors raised its position in Coinbase Global by 847.2% during the fourth quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after acquiring an additional 1,374,318 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at $142,995,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of Coinbase Global in the first quarter worth about $104,766,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 5.3%

Shares of Coinbase Global stock opened at $188.12 on Tuesday. The stock has a market cap of $49.63 billion, a price-to-earnings ratio of -48.99 and a beta of 3.36. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. Coinbase Global has a twelve month low of $139.11 and a twelve month high of $402.16. The company has a fifty day moving average price of $160.89 and a 200 day moving average price of $174.86.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.14 earnings per share. Equities research analysts forecast that Coinbase Global will post -0.06 earnings per share for the current fiscal year.

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.