Research Analysts Issue Forecasts for Coinbase Global, Inc.’s Q1 2024 Earnings (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) – Equities researchers at HC Wainwright upped their Q1 2024 EPS estimates for shares of Coinbase Global in a note issued to investors on Monday, April 29th. HC Wainwright analyst M. Colonnese now expects that the cryptocurrency exchange will post earnings per share of $1.19 for the quarter, up from their prior forecast of $0.46. HC Wainwright currently has a “Buy” rating and a $300.00 target price on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $2.43 per share. HC Wainwright also issued estimates for Coinbase Global’s Q4 2024 earnings at $1.19 EPS and FY2024 earnings at $3.99 EPS.

A number of other brokerages have also issued reports on COIN. Needham & Company LLC increased their target price on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research report on Thursday, March 28th. JPMorgan Chase & Co. increased their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Sanford C. Bernstein increased their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, Barclays increased their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $167.81.

Coinbase Global Trading Up 3.0 %

Shares of NASDAQ:COIN opened at $210.09 on Wednesday. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a market capitalization of $50.90 billion, a price-to-earnings ratio of 778.11 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day moving average price is $233.11 and its 200-day moving average price is $163.99.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter last year, the company earned ($2.46) EPS. The business’s revenue was up 51.6% on a year-over-year basis.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the completion of the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 700 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The disclosure for this sale can be found here. Insiders have sold a total of 419,797 shares of company stock worth $85,822,565 in the last quarter. Company insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fountainhead AM LLC increased its position in shares of Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after purchasing an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after acquiring an additional 81 shares in the last quarter. Nilsine Partners LLC grew its position in Coinbase Global by 1.2% in the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after acquiring an additional 81 shares in the last quarter. Arkadios Wealth Advisors grew its position in Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Finally, Concord Wealth Partners grew its position in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

About Coinbase Global

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.