Coinbase Global (NASDAQ:COIN) Price Target Raised to $196.00

Coinbase Global (NASDAQ:COIN) had its price target boosted by The Goldman Sachs Group from $173.00 to $196.00 in a report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other equities analysts have also weighed in on COIN. Barclays lowered their target price on Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Rothschild & Co Redburn boosted their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. boosted their price target on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Compass Point restated a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Coinbase Global in a research note on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $215.90.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $190.72 on Tuesday. Coinbase Global has a one year low of $139.11 and a one year high of $402.16. The firm has a market capitalization of $50.32 billion, a price-to-earnings ratio of -49.67 and a beta of 3.36. The business has a 50-day simple moving average of $160.12 and a 200 day simple moving average of $174.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.

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

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 2,062 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of the stock in a transaction on Monday, August 3rd. The shares were 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 sold 59,181 shares of company stock worth $9,180,882 in the last 90 days. Corporate insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently bought and sold shares of COIN. Archer Investment Corp bought a new stake in shares of Coinbase Global in the 2nd quarter worth $26,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global during the fourth quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in shares of Coinbase Global during the third quarter valued at about $29,000. Osbon Capital Management LLC bought a new position in shares of Coinbase Global during the fourth quarter valued at about $30,000. Finally, Glen Eagle Advisors LLC boosted its holdings in Coinbase Global by 101.1% during the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global News Summary

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

• Positive Sentiment: New Bitcoin-backed mortgage product expands Coinbase’s financial-services strategy. Coinbase and Better Mortgage made a nationwide product generally available, allowing qualified borrowers to use Bitcoin as collateral for a down-payment loan without selling their holdings. The offering could generate new custody, lending and transaction opportunities while strengthening Coinbase’s role in mainstream finance. Better launches Bitcoin-backed mortgages powered by Coinbase
• Positive Sentiment: Coinbase is building additional on-chain businesses. The company launched tokenized stocks on its Base network and is working with Chainlink to provide pricing data. Lending markets and international portfolio products could create new revenue streams beyond traditional crypto trading, although U.S. availability remains limited. Coinbase Taps Chainlink to Power Tokenized Stocks on Base
• Positive Sentiment: Goldman Sachs reiterated its Buy rating on Coinbase. Wall Street’s support, combined with growing expectations for the CLARITY Act, reinforces the potential for regulatory clarity to benefit Coinbase’s exchange, stablecoin, custody and institutional businesses. Goldman Sachs Reiterates Buy Ratings On Coinbase And Robinhood
• Neutral Sentiment: Recent gains have prompted a valuation debate. Coinbase rose about 14% over the past month but captured less of Bitcoin’s rally than some competing crypto-related stocks. Analysts remain divided, with a median price target near $240 versus the stock’s recent price around $191.
• Negative Sentiment: Crypto-market volatility remains the biggest risk. A Bitcoin pullback can quickly reduce trading volumes, transaction revenue and investor appetite for COIN. Coinbase’s latest quarterly results already showed an adjusted loss and an 18.5% year-over-year revenue decline, increasing sensitivity to weaker crypto momentum.
• Negative Sentiment: Insider selling and California tax uncertainty weigh on sentiment. Chief Accounting Officer Jennifer Jones sold 2,062 shares for approximately $389,000 under a pre-arranged Rule 10b5-1 plan. Separately, CEO Brian Armstrong is considering relocating because of California’s proposed wealth tax, creating uncertainty around potential costs and disruption. Coinbase CEO weighs leaving California over wealth tax

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.