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

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given a consensus rating of “Hold” by the thirty-three research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $252.20.

A number of research firms recently commented on COIN. President Capital increased their price objective on Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. BTIG Research dropped their price objective on Coinbase Global from $340.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Oppenheimer dropped their price objective on Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. China Renaissance dropped their price objective on Coinbase Global from $301.50 to $223.20 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Zacks Research upgraded Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 10,020 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the transaction, the chief financial officer owned 397,171 shares in the company, valued at approximately $79,434,200. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 29,990 shares of company stock valued at $6,013,920 in the last 90 days. Corporate insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Vanguard Group Inc. raised its position in shares of Coinbase Global by 8.3% in the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after purchasing an additional 2,007,930 shares during the period. North Dakota State Investment Board bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $1,626,000. Mizuho Markets Cayman LP bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $33,921,000. Harvest Portfolios Group Inc. raised its position in shares of Coinbase Global by 21.7% in the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange’s stock valued at $85,159,000 after purchasing an additional 67,082 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Coinbase Global in the third quarter valued at approximately $14,491,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $184.99 on Friday. The company has a 50 day simple moving average of $190.49 and a 200-day simple moving average of $216.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market capitalization of $48.74 billion, a price-to-earnings ratio of 69.55, a price-to-earnings-growth ratio of 6.74 and a beta of 3.38. Coinbase Global has a 52-week low of $139.36 and a 52-week high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was down 30.5% on a year-over-year basis. Equities research analysts predict that Coinbase Global will post 1.72 earnings per share for the current fiscal year.

Trending Headlines about Coinbase Global

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

• Negative Sentiment: Bitcoin and Ethereum fell, weighing on crypto-related stocks and dragging Coinbase lower alongside other trading platforms like Robinhood. Coinbase and Other Crypto Stocks Are Falling. Several Possible Reasons for the Bad Day.
• Negative Sentiment: Crypto market sentiment has been hurt by Bitcoin slipping into the mid-$70,000s, a negative Coinbase premium, and reports of institutional selling and ETF outflows, all of which point to softer near-term trading volumes for Coinbase. Coinbase premium hits monthly low as institutional selling pressure mounts
• Neutral Sentiment: Coinbase continues to expand its product set, including launching perpetual-style equity index futures in June and supporting new stablecoin infrastructure, which could help diversify revenue over time. Traders Get AI, Defense, and China Perp Futures on Coinbase Starting June 8
• Neutral Sentiment: Management also highlighted AI-driven compliance improvements and faster resolution times, which is supportive for operating efficiency but not enough to offset the crypto selloff today. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%

Coinbase Global Company Profile

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.