Coinbase Global (NASDAQ:COIN) Stock Price Target Lowered at The Goldman Sachs Group

Coinbase Global (NASDAQ:COIN) had its target price cut by stock analysts at The Goldman Sachs Group from $244.00 to $210.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the cryptocurrency exchange’s stock. The Goldman Sachs Group‘s price objective would suggest a potential upside of 51.39% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Argus reissued a “hold” rating on shares of Coinbase Global in a report on Wednesday, August 26th. Bank of America reissued a “buy” rating on shares of Coinbase Global in a report on Monday, October 5th. Keefe, Bruyette & Woods initiated coverage on shares of Coinbase Global in a research report on Monday, September 28th. They set an “outperform” rating and a $237.00 price target for the company. Barclays reduced their price target on Coinbase Global from $149.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday. Finally, BTIG Research reissued a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research report on Friday. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $216.57.

Coinbase Global Price Performance

COIN traded down $21.88 on Friday, reaching $138.71. The stock had a trading volume of 12,415,533 shares, compared to its average volume of 10,008,297. The company has a market capitalization of $36.60 billion, a price-to-earnings ratio of -36.14 and a beta of 3.41. Coinbase Global has a fifty-two week low of $136.89 and a fifty-two week high of $361.40. The firm has a 50-day moving average of $180.32 and a 200-day moving average of $179.32. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.14 earnings per share. As a group, sell-side analysts anticipate that Coinbase Global will post -0.47 EPS for the current year.

Insider Activity at Coinbase Global

In other news, CAO Jennifer Jones sold 2,062 shares of Coinbase Global stock in a transaction on Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia Haas sold 39,030 shares of Coinbase Global stock in a transaction on Monday, September 21st. The stock was sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the sale, the chief financial officer owned 345,376 shares of the company’s stock, valued at $70,884,970.24. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 127,188 shares of company stock valued at $23,029,558 in the last quarter. Corporate insiders own 16.66% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently made changes to their positions in the stock. NBT Bank N.A. purchased a new stake in Coinbase Global during the third quarter worth about $28,000. Glen Eagle Advisors LLC increased its holdings in shares of Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. Archer Investment Corp lifted its position in shares of Coinbase Global by 546.4% during the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 153 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $37,000. Finally, Kings Path Partners LLC purchased a new stake in Coinbase Global in the third quarter valued at $37,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

More Coinbase Global News

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

• Positive Sentiment: Coinbase returned to profitability, reporting approximately $719 million in net income for the third quarter, helped largely by gains on its cryptocurrency investments and lower operating expenses. Coinbase net income surges 66% in third quarter
• Positive Sentiment: The company is reducing its dependence on transaction fees: subscription and services revenue reached nearly 49% of net revenue, while prediction markets surpassed a $200 million annualized revenue run rate. Management also highlighted expansion into stablecoins, tokenized assets and AI-related products. Coinbase Cuts Trading Reliance
• Neutral Sentiment: Several analysts remain bullish, including HC Wainwright, BTIG and Cantor Fitzgerald, while Needham retained a Buy rating. However, price targets were lowered by Wells Fargo, Barclays, Mizuho and Needham, creating a sharply divided outlook.
• Negative Sentiment: Core operating trends were weak. Third-quarter revenue fell about 35% year over year to $1.22 billion, transaction revenue declined 44% year over year to roughly $590 million, and spot trading volume fell 10% sequentially. Adjusted net income was only about $78 million, indicating that the headline profit was driven predominantly by crypto-asset gains rather than operating strength. Weak Trading Revenue and Soft Q4 Outlook
• Negative Sentiment: Early fourth-quarter transaction revenue of approximately $165 million through October 25 and projected fourth-quarter subscription and services revenue of $550 million to $630 million raised concerns that trading conditions remain subdued.
• Negative Sentiment: The reported Binance hack intensified worries about crypto-sector security and sentiment. Although Coinbase said customer funds were safe after a vendor data incident, the broader market reaction pressured crypto-related stocks. Coinbase and Crypto Stocks Tumble After Binance Hack
• Negative Sentiment: Investor confidence was further affected by reported insider-sale plans totaling roughly $2 billion and a pattern of insider selling, while Barclays cut its rating to Underweight with a $120 price target.

About Coinbase Global

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.