What is B. Riley’s Estimate for Coinbase Global Q3 Earnings?

Coinbase Global, Inc. (NASDAQ:COIN) – Investment analysts at B. Riley issued their Q3 2024 earnings per share (EPS) estimates for shares of Coinbase Global in a note issued to investors on Tuesday, October 22nd. B. Riley analyst H. Goetsch expects that the cryptocurrency exchange will earn $0.70 per share for the quarter. B. Riley currently has a “Hold” rating on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $3.92 per share. B. Riley also issued estimates for Coinbase Global’s Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $4.98 EPS and FY2025 earnings at $3.71 EPS.

Several other equities research analysts also recently issued reports on the company. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. Bank of America reduced their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $242.82.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $205.04 on Friday. The firm has a market capitalization of $50.35 billion, a PE ratio of 40.93 and a beta of 3.35. Coinbase Global has a 1 year low of $70.42 and a 1 year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $181.15 and its 200 day simple moving average is $210.23.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.42) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Cowen AND Company LLC boosted its stake in shares of Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after acquiring an additional 22,071 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,187 shares of company stock valued at $13,158,294 over the last 90 days. 23.43% of the stock is owned by company 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.