Coinbase Global (NASDAQ:COIN) Price Target Raised to $228.00 at The Goldman Sachs Group

Coinbase Global (NASDAQ:COIN) had its price target boosted by The Goldman Sachs Group from $226.00 to $228.00 in a research report released on Thursday,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the cryptocurrency exchange’s stock.

COIN has been the subject of a number of other reports. Rothschild & Co Redburn boosted their price objective on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Citizens Jmp lowered their price objective on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. Canaccord Genuity Group lowered their price objective on shares of Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a report on Friday, February 13th. Needham & Company LLC lowered their price objective on shares of Coinbase Global from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Sanford C. Bernstein lowered their price target on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Nineteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $252.10.

Coinbase Global Trading Up 4.9%

Shares of Coinbase Global stock opened at $182.25 on Thursday. Coinbase Global has a 1 year low of $139.36 and a 1 year high of $444.64. The firm has a market cap of $48.02 billion, a PE ratio of 68.52, a PEG ratio of 6.13 and a beta of 3.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.34. The company has a 50 day simple moving average of $188.86 and a two-hundred day simple moving average of $212.34.

Coinbase Global (NASDAQ:COIN) last announced its 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 company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Analysts expect that Coinbase Global will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the transaction, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction dated Wednesday, March 4th. 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 397,171 shares in the company, valued at $79,434,200. This represents a 2.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,606 shares of company stock valued at $7,264,410 over the last ninety days. Corporate insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in COIN. Integrated Wealth Concepts LLC raised its stake in Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 413 shares during the period. Empowered Funds LLC raised its stake in Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after acquiring an additional 1,761 shares during the period. Focus Partners Wealth raised its stake in Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after acquiring an additional 467 shares during the period. Sivia Capital Partners LLC bought a new stake in Coinbase Global during the 2nd quarter worth approximately $285,000. Finally, Cerity Partners LLC raised its stake in Coinbase Global by 8.6% during the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock worth $6,203,000 after acquiring an additional 1,402 shares during the period. 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: Coinbase expanded its institutional fiat infrastructure through a partnership with Standard Chartered, adding multi-currency funding and settlement rails for AUD, SGD, CAD, CHF, EUR and GBP. This could make it easier for global institutions to move money onto and off the platform, supporting trading volumes and Coinbase’s international growth. Coinbase, Standard Chartered Partner to Add 6 Currency Access
• Positive Sentiment: Coinbase’s Base network launched an AI-focused wallet integration tool that lets assistants like ChatGPT and Claude interact with crypto wallets and execute on-chain actions. Investors may view this as a new growth avenue tied to AI-enabled crypto usage. Base launches new tool to connect crypto wallets to AI agents
• Positive Sentiment: CEO Brian Armstrong said Coinbase’s new Direct Deposit feature is live, allowing users to route part of their paycheck directly into crypto purchases. That could improve customer engagement and make recurring buying easier. Brian Armstrong Says You Can Now Route Your Paycheck Directly To Coinbase For Automatic Crypto Investments
• Positive Sentiment: Goldman Sachs raised its price target on Coinbase and kept a buy rating, reinforcing the view that analysts still see meaningful upside from current levels. Goldman Sachs adjusts price target on Coinbase Global
• Neutral Sentiment: Some market commentary says Coinbase may still be range-bound and dependent on a stronger crypto market, so product news alone may not be enough to sustain momentum. Stock Of The Day: Is This The New Range For Coinbase
• Neutral Sentiment: Recent crypto headlines also point to weaker Bitcoin demand and negative Coinbase Premium readings, which could weigh on near-term trading activity. Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals
• Negative Sentiment: Insider Lawrence J. Brock sold shares under a pre-arranged trading plan, which may still be read cautiously by investors even though it does not necessarily signal a change in fundamentals. Coinbase insider trade filing

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.