Coinbase Global (NASDAQ:COIN) Posts Earnings Results, Misses Expectations By $1.55 EPS

Coinbase Global, Inc. (NASDAQ:COIN) issued its quarterly earnings results on Thursday. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55), FiscalAI reports. Coinbase Global had a return on equity of 4.10% and a net margin of 12.20%.The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was down 30.5% compared to the same quarter last year.

Here are the key takeaways from Coinbase Global’s conference call:

• Coinbase reached a new all?time high in crypto trading market share and recorded its 12th consecutive quarter of net native unit inflows, reinforcing its position as the largest custodian of crypto assets.
• Q1 results showed $1.4 billion revenue, a quarterly net loss of $394 million but $303 million adjusted EBITDA; revenue was down 21% q/q from market headwinds, the company ended with over $10 billion cash (?$12B total resources) and guided 2026 adjusted expenses to $4.3–$4.6B while flagging $50–$60M of Q2 restructuring charges.
• Product momentum is accelerating — the Everything Exchange shows traction with retail derivatives >$200M annualized revenue and prediction markets at $100M annualized in March, while DEX volumes doubled q/q and Borrow/Lend balances topped $1B.
• Coinbase is advancing as a stablecoin and agentic commerce hub — average USDC held in Coinbase products hit an all?time high of $19 billion, Coinbase holds ~25% of all USDC on platforms (capturing ~50% of USDC economics), and Base plus the x402 protocol account for the majority of on?chain agentic transactions.
• Management expects regulatory clarity from the CLARITY Act (markup this month, likely signed by summer), which they view as a significant industry unlock that preserves activity?based stablecoin rewards and should broaden institutional and commercial adoption.

Coinbase Global Stock Performance

NASDAQ COIN traded up $8.20 during trading hours on Friday, hitting $201.16. The company’s stock had a trading volume of 12,840,717 shares, compared to its average volume of 9,817,722. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The company’s 50 day simple moving average is $189.05 and its two-hundred day simple moving average is $226.92. The company has a market cap of $53.12 billion, a P/E ratio of 75.62, a price-to-earnings-growth ratio of 4.35 and a beta of 3.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase is expanding beyond spot crypto with new products, including gold and silver perpetual futures, prediction markets, and AI-agent payment infrastructure, which supports its “everything exchange” strategy.
• Positive Sentiment: The company and AWS/Stripe announced AI-agent payment capabilities using USDC, reinforcing Coinbase’s role in stablecoin and blockchain infrastructure growth.
• Positive Sentiment: Some analysts remain constructive, saying Coinbase could benefit from the CLARITY Act and revenue diversification even after trimming price targets. Article Title
• Neutral Sentiment: Coinbase reported record market share and strong derivatives traction, suggesting its platform is still gaining relevance even as overall trading volumes slow.
• Neutral Sentiment: Coinbase resumed trading after a roughly seven-hour AWS-related outage, but the incident highlighted operational risk rather than a permanent business issue.
• Negative Sentiment: Several Wall Street firms cut price targets after the earnings miss, reflecting lower near-term expectations for trading revenue and profits.
• Negative Sentiment: The AWS outage disrupted Coinbase’s trading services and may have added to investor frustration around platform reliability.
• Negative Sentiment: Coinbase also announced layoffs and an AI-driven restructuring, underscoring cost pressure and a tougher demand backdrop for its core business.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer directly owned 377,201 shares in the company, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 29,990 shares of company stock valued at $6,013,920. 16.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the company. Sivia Capital Partners LLC bought a new stake in shares of Coinbase Global during the 2nd quarter valued at about $285,000. EFG International AG bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $216,000. DLD Asset Management LP bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $207,000. Gerber Kawasaki Wealth & Investment Management lifted its position in shares of Coinbase Global by 17.4% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 958 shares of the cryptocurrency exchange’s stock valued at $217,000 after buying an additional 142 shares in the last quarter. Finally, Victory Financial Group LLC purchased a new position in Coinbase Global in the 3rd quarter worth approximately $204,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COIN. Compass Point dropped their price target on Coinbase Global from $190.00 to $140.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. Piper Sandler reduced their price target on Coinbase Global from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Friday. UBS Group set a $264.00 price target on Coinbase Global in a report on Friday, February 13th. Barclays reduced their price target on Coinbase Global from $140.00 to $107.00 and set an “underweight” rating for the company in a report on Friday. Finally, Sanford C. Bernstein reduced their price target on Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Nineteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average price target of $250.04.

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.