Coinbase Global (NASDAQ:COIN) Shares Gap Up – Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price gapped up before the market opened on Friday . The stock had previously closed at $158.44, but opened at $166.67. Coinbase Global shares last traded at $161.7650, with a volume of 1,430,798 shares trading hands.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase is trading higher in sympathy with Circle after Circle received OCC approval to open a national trust bank, a sign of improving regulatory acceptance for crypto-related financial infrastructure. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, reinforcing the view that the stock still has significant upside if crypto trading volumes and sentiment improve.
• Positive Sentiment: Coinbase’s UK authorization to offer investment services supports its “everything exchange” strategy and could expand the company’s long-term growth runway by adding equities and derivatives alongside crypto. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Chief Legal Officer Paul Grewal is stepping down after six years and will transition to an advisory role; while the move follows major regulatory wins, it creates some leadership-transition uncertainty. Coinbase’s top attorney who has led crypto’s Washington fight to step down
• Negative Sentiment: Barclays cut its price target on Coinbase to $99 and maintained an underweight rating, signaling continued skepticism about valuation and near-term fundamentals.
• Negative Sentiment: Recent crypto market weakness tied to broader geopolitical risk has weighed on Bitcoin and other digital assets, which can pressure Coinbase because its revenue is closely tied to trading activity. Bitcoin, Ethereum, XRP, Dogecoin Slide as Trump Warns Iran Strikes Could Get ‘Much Worse’

Analyst Ratings Changes

Several research firms recently weighed in on COIN. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $208.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $226.00 to $228.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Piper Sandler reduced their price target on shares of Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Finally, Rothschild & Co Redburn increased their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $251.79.

Coinbase Global Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The firm has a market cap of $42.14 billion, a PE ratio of 60.21, a price-to-earnings-growth ratio of 5.63 and a beta of 3.35. The firm has a 50-day simple moving average of $174.34 and a 200 day simple moving average of $190.11.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The business 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%.The firm’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share. As a group, equities analysts expect that Coinbase Global, Inc. will post 1.74 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $3,181,800. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer owned 377,201 shares of the company’s stock, valued at $75,440,200. The trade was a 2.59% 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 have sold a total of 40,647 shares of company stock valued at $7,331,841 over the last three months. 16.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC increased its holdings in shares of Coinbase Global by 24.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after buying an additional 1,761 shares during the last quarter. Focus Partners Wealth increased its position in shares of Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after acquiring an additional 467 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Coinbase Global in the 2nd quarter worth approximately $285,000. Finally, Cerity Partners LLC lifted its position in Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after acquiring an additional 1,402 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.