Coinbase Global (NASDAQ:COIN) Given Hold Rating at Argus

Coinbase Global (NASDAQ:COIN)‘s stock had its “hold” rating reaffirmed by analysts at Argus in a research note issued to investors on Wednesday,Benzinga reports.

COIN has been the subject of a number of other reports. Cantor Fitzgerald decreased their price objective on Coinbase Global from $250.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Raymond James Financial started coverage on Coinbase Global in a research note on Wednesday, July 22nd. They issued a “market perform” rating for the company. KeyCorp reiterated a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. Sanford C. Bernstein reissued an “outperform” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Friday, July 31st. Finally, President Capital boosted their price target on shares of Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $215.90.

Coinbase Global Stock Down 1.9%

NASDAQ COIN opened at $183.69 on Wednesday. The stock has a market capitalization of $48.46 billion, a P/E ratio of -47.90 and a beta of 3.36. Coinbase Global has a 52 week low of $139.11 and a 52 week high of $402.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a fifty day moving average of $159.23 and a 200-day moving average of $174.17.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $5.14 EPS. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, equities research analysts forecast that Coinbase Global will post -0.06 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick R. Wilson sold 35,068 shares of Coinbase Global stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,119 shares of company stock worth $8,791,679 over the last quarter. 16.66% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Archer Investment Corp acquired a new position in shares of Coinbase Global during the 2nd quarter worth approximately $26,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. Palisade Asset Management LLC acquired a new position in Coinbase Global during the third quarter worth $29,000. Osbon Capital Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $30,000. Finally, Glen Eagle Advisors LLC raised its position in Coinbase Global by 101.1% during the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

More Coinbase Global News

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

• Positive Sentiment: Bitcoin strength is lifting COIN. Bitcoin’s rally toward and briefly above $80,000 has renewed investor interest in crypto-related equities. Coinbase shares have historically moved closely with Bitcoin because higher prices can increase trading activity, transaction revenue and investor risk appetite. Coinbase Stock Surges as Bitcoin Rallied to $80,000
• Positive Sentiment: New tokenized-stock products expand Coinbase’s addressable market. Coinbase launched tokenized U.S. equities on Base for eligible non-U.S. users, offering 24/7 trading and potential use in decentralized-finance applications. Chainlink price feeds will support lending, borrowing and other onchain uses, while Bitwise is using Coinbase’s tokenized stocks in automated portfolios. These initiatives could create new trading, custody and infrastructure revenue streams. Coinbase Tokenized Stocks Go Live on Base with Chainlink Price Feeds
• Positive Sentiment: Goldman Sachs raised its price target. Goldman reiterated a Buy rating and lifted its target for COIN from $173 to $196, providing additional Wall Street support, although the revised target implies only modest upside from the stock’s current level. Goldman Sachs Reiterates Buy Ratings on Coinbase and Robinhood
• Positive Sentiment: Coinbase is broadening trading functionality. The Base App added more than 290 leveraged perpetual-futures markets through Hyperliquid, increasing Coinbase’s exposure to derivatives and potentially boosting engagement and fee opportunities. Coinbase Global Adds More Than 290 Leveraged Markets to Base App
• Neutral Sentiment: Investors are awaiting the U.S. personal-consumption-expenditures inflation report. A hotter-than-expected reading could push Treasury yields higher and reduce expectations for interest-rate cuts, potentially pressuring speculative assets such as cryptocurrency and COIN. US Inflation Test Is Hours Away
• Negative Sentiment: Legal and political risks remain. A federal judge allowed a Coinbase investor class action to proceed, while CEO Brian Armstrong warned that California’s proposed wealth tax could prompt the company to reconsider its location. Coinbase also recently reported a substantial quarterly EPS and revenue miss, underscoring earnings volatility. Coinbase Investor Class Action Can Move Forward

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.