Coinbase Global, Inc. (NASDAQ:COIN) Stock Has Average Target Price of $219.97

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given a consensus rating of “Hold” by the thirty-five analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $222.94.

A number of brokerages have recently weighed in on COIN. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a research report on Tuesday, July 28th. William Blair restated an “outperform” rating on shares of Coinbase Global in a report on Tuesday, September 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Finally, Barclays reduced their price objective on shares of Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st.

Coinbase Global Stock Performance

Coinbase Global stock opened at $191.79 on Friday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. The firm has a market cap of $50.60 billion, a P/E ratio of -49.95 and a beta of 3.39. Coinbase Global has a 1-year low of $139.11 and a 1-year high of $402.16. The firm has a 50-day moving average of $171.62 and a 200-day moving average of $176.05.

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 analysts’ consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion for 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 firm’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.14 EPS. Sell-side analysts expect that Coinbase Global will post -0.48 EPS for the current year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 39,030 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $205.24, for a total value of $8,010,517.20. Following the completion of the transaction, the chief financial officer directly owned 345,376 shares of the company’s stock, valued at $70,884,970.24. This represents a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 116,674 shares of company stock worth $20,720,336. 16.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after buying an additional 189,080 shares during the last quarter. Paradigm Operations LP raised its holdings in Coinbase Global by 3.3% in the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after acquiring an additional 134,425 shares during the last quarter. Norges Bank bought a new position in Coinbase Global in the 4th quarter valued at approximately $656,744,000. Amova Asset Management Americas Inc. lifted its position in Coinbase Global by 0.8% in the 4th quarter. Amova Asset Management Americas Inc. now owns 1,721,198 shares of the cryptocurrency exchange’s stock valued at $389,215,000 after acquiring an additional 13,187 shares in the last quarter. Finally, Capital World Investors boosted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Citi partnership expands Coinbase’s institutional opportunity. Citigroup is working with Coinbase to provide blockchain infrastructure for corporate stablecoin payments, while Citi converts the digital assets into fiat currency and handles settlement. The arrangement could make stablecoin payments more practical for large businesses without requiring merchants to custody tokens directly. Coinbase will also use Citi’s virtual-account services to support fiat-to-stablecoin conversions. Citi Expands Digital-Assets Footprint With Coinbase Partnership
• Positive Sentiment: Analysts raised their valuation estimates. Keefe, Bruyette & Woods initiated coverage with an “outperform” rating and a $237 price target. Robert W. Baird raised its target from $130 to $205, although it maintained a “neutral” rating. The revisions suggest that analysts see potential value from Coinbase’s payments expansion despite the company’s recent earnings miss. Coinbase Stock: Citi Partnership Sparks Price Target Hike
• Positive Sentiment: Coinbase continues broadening its product ecosystem. The exchange has begun offering U.S. retail investors access to IPO allocations, adding another potential revenue stream and strengthening its position beyond spot cryptocurrency trading. Coinbase Adds IPO Share Trading
• Neutral Sentiment: Riot Platforms repaid a $200 million Coinbase credit facility. The repayment releases Bitcoin, USDC and cash collateral held through Coinbase. It reduces Coinbase’s lending exposure and associated credit risk, but may also eliminate interest income from the facility. Riot Platforms Repays $200M Credit Facility
• Negative Sentiment: Crypto-cycle and valuation concerns remain significant. Commentary emphasizes that Coinbase’s earnings are highly dependent on cryptocurrency prices, trading activity and investor sentiment. Its latest quarter missed consensus estimates on both earnings and revenue, leaving the stock vulnerable if Bitcoin activity weakens further.
• Negative Sentiment: CEO Brian Armstrong tempered expectations for Bitcoin. Armstrong said his previously discussed $400,000 Bitcoin target is not guaranteed, which may reinforce investor caution around forecasts that support Coinbase’s growth outlook. Coinbase CEO Says His $400K Bitcoin Target Isn’t Guaranteed

About Coinbase Global

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.