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

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given a consensus recommendation of “Hold” by the thirty-three research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $245.3935.

Several brokerages have recently commented on COIN. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Monness Crespi & Hardt reiterated a “sell” rating on shares of Coinbase Global in a research report on Friday, June 5th. Barclays cut their price target on Coinbase Global from $107.00 to $99.00 and set an “underweight” rating on the stock in a research note on Thursday, July 9th. Bank of America decreased their price objective on Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Finally, Citizens Jmp dropped their price objective on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th.

Coinbase Global Trading Down 2.1%

Shares of COIN opened at $157.12 on Monday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $41.39 billion, a PE ratio of 59.07, a PEG ratio of 10.22 and a beta of 3.35. Coinbase Global has a 1 year low of $139.18 and a 1 year high of $444.64. The stock has a 50 day simple moving average of $170.41 and a 200-day simple moving average of $187.07.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. On average, sell-side analysts predict that Coinbase Global will post 1.43 EPS for the current fiscal year.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider directly owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 30,627 shares of company stock valued at $5,327,841. Insiders own 16.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of COIN. Integrated Wealth Concepts LLC grew its holdings in Coinbase Global by 24.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 413 shares during the period. Empowered Funds LLC lifted its position in shares of Coinbase Global by 25.8% in the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after buying an additional 1,761 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Coinbase Global by 9.9% in the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after purchasing an additional 467 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Coinbase Global in the second quarter valued at about $285,000. Finally, Cerity Partners LLC raised its position in shares of Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after purchasing an additional 1,402 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.