Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Rating of “Hold” from Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average rating of “Hold” from the thirty-three brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $250.6516.

Several equities research analysts have commented on the stock. President Capital boosted their price target on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 target price on shares of Coinbase Global in a report on Wednesday. B. Riley Financial cut their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Coinbase Global in a research report on Wednesday.

More Coinbase Global News

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

• Positive Sentiment: Analysts at multiple firms reaffirmed bullish ratings on Coinbase, with price targets ranging from $220 to $280, signaling confidence in upside from current levels.
• Positive Sentiment: Jefferies said Coinbase’s expansion into tokenized equities and AI could broaden its addressable market and strengthen its “everything exchange” strategy.
• Positive Sentiment: Coinbase launched AI-powered investing tools, including an AI investment adviser, alongside new trading features such as tokenized stocks, pre-IPO exposure, and portfolio transfers, which may improve user engagement and revenue diversification.
• Positive Sentiment: Coinbase’s move into tokenized U.S. equities, dividend-bearing onchain assets, and expanded stock/ETF trading could help it compete more directly with traditional brokerages and fintech platforms.
• Neutral Sentiment: Coinbase-linked political spending and pro-crypto election results, such as the Alabama Senate runoff win backed by a crypto PAC, suggest improving regulatory and political momentum for the industry. Article Title

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately $5,446,200. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 30,647 shares of company stock worth $5,740,941. 16.66% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of COIN. Vanguard Group Inc. boosted its holdings in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after purchasing an additional 184,043 shares in the last quarter. Geode Capital Management LLC raised its holdings in Coinbase Global by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after buying an additional 189,080 shares in the last quarter. Paradigm Operations LP raised its holdings in Coinbase Global by 3.3% during the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after buying an additional 134,425 shares in the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter worth about $656,744,000. Finally, ARK Investment Management LLC lifted its position in shares of Coinbase Global by 6.1% in the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock worth $574,832,000 after buying an additional 146,388 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

NASDAQ COIN opened at $164.91 on Thursday. The company has a 50-day moving average price of $184.76 and a two-hundred day moving average price of $201.96. Coinbase Global has a 52 week low of $139.36 and a 52 week high of $444.64. The stock has a market cap of $43.45 billion, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 5.98 and a beta of 3.32. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last released 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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Analysts forecast that Coinbase Global will post 1.74 EPS for the current year.

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.