Benchmark Issues Pessimistic Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price target dropped by Benchmark from $270.00 to $230.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the cryptocurrency exchange’s stock. Benchmark’s price objective would suggest a potential upside of 64.81% from the company’s previous close.

A number of other research firms have also weighed in on COIN. Wedbush set a $224.00 price objective on shares of Coinbase Global in a research note on Friday, May 8th. Robert W. Baird dropped their target price on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. President Capital boosted their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $208.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Citigroup reiterated a “market outperform” rating on shares of Coinbase Global in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $226.41.

Coinbase Global Stock Down 14.7%

Shares of NASDAQ COIN traded down $24.03 during trading on Friday, reaching $139.55. The company had a trading volume of 4,062,482 shares, compared to its average volume of 10,317,523. Coinbase Global has a 12-month low of $139.18 and a 12-month high of $402.16. The stock has a market cap of $36.77 billion, a PE ratio of 52.97, a P/E/G ratio of 10.30 and a beta of 3.35. The business’s 50-day moving average is $164.00 and its 200 day moving average is $181.97. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. As a group, equities analysts forecast that Coinbase Global will post 1.42 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the sale, the insider directly owned 517 shares of the company’s stock, valued at $97,718.17. The trade was a 92.75% decrease in their position. 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 have sold a total of 30,627 shares of company stock worth $5,327,841 in the last three months. 16.66% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Large investors have recently added to or reduced their stakes in the business. Trust Asset Management LLC raised its position in Coinbase Global by 4.2% in the second quarter. Trust Asset Management LLC now owns 2,414 shares of the cryptocurrency exchange’s stock worth $353,000 after acquiring an additional 97 shares during the period. Annex Advisory Services LLC bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $549,000. Tema ETFs LLC increased its stake in shares of Coinbase Global by 7.3% in the 2nd quarter. Tema ETFs LLC now owns 4,265 shares of the cryptocurrency exchange’s stock worth $624,000 after purchasing an additional 290 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Coinbase Global by 2.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 3,381 shares of the cryptocurrency exchange’s stock worth $494,000 after purchasing an additional 69 shares in the last quarter. Finally, Allied Private Wealth LLC bought a new position in Coinbase Global in the 2nd quarter worth $64,000. 68.84% of the stock is currently owned by institutional investors.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase captured a record 10.3% share of global crypto trading volume, up from 9.1% in the first quarter, despite weaker industry activity. Growth in derivatives, stablecoins, prediction markets, subscriptions and Base could make the business less dependent on spot-crypto trading. Coinbase Hits Record Market Share Despite Loss
• Positive Sentiment: Several analysts maintained Buy ratings, including Canaccord with a $300 price target and H.C. Wainwright with a $265 target, citing diversification, regulatory clarity and potential upside in a future crypto recovery. Analyst Sees Coinbase as Beneficiary of Crypto Upswing
• Positive Sentiment: A federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, including claims involving matched customer transactions. The ruling reduces a significant legal overhang, though remaining claims may still create risk. Coinbase Beats Much of Customer Lawsuit
• Neutral Sentiment: CEO Brian Armstrong said Coinbase would continue operating normally if the Senate does not pass the CLARITY Act before its August recess. Passage could nevertheless provide clearer rules and support customer growth. Brian Armstrong Discusses the CLARITY Act
• Negative Sentiment: Coinbase reported a $359 million GAAP net loss, or $1.36 per share, versus an expected loss of about $122 million, while revenue fell 18.5% year over year to $1.22 billion and missed estimates. This marked the company’s third consecutive quarterly loss. Coinbase Reports Third Straight Quarterly Loss
• Negative Sentiment: Transaction revenue declined 21% to $599 million as crypto trading volumes and volatility weakened. Fading expectations for Federal Reserve rate cuts, falling bitcoin prices and outflows from spot crypto ETFs are adding pressure to the broader sector. Coinbase Shares Take Hit on Quarterly Loss
• Negative Sentiment: Brokerages including Needham, Barclays, Goldman Sachs, BTIG and Clear Street cut price targets after the earnings miss. Needham still rates the shares Buy but reduced its target to $177, signaling diminished near-term expectations. COIN Price Target Cuts

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.