Coinbase Global (NASDAQ:COIN) had its price target lowered by stock analysts at Citigroup from $400.00 to $235.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the cryptocurrency exchange’s stock. Citigroup’s price target points to a potential upside of 48.46% from the stock’s current price.
Several other research firms have also weighed in on COIN. Citizens Jmp lowered their target price on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group lifted their price target on Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Barclays decreased their price objective on shares of Coinbase Global from $107.00 to $99.00 and set an “underweight” rating on the stock in a research report on Thursday, July 9th. Robert W. Baird lowered their price objective on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Finally, Monness Crespi & Hardt restated a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $239.14.
Read Our Latest Research Report on Coinbase Global
Coinbase Global Price Performance
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly 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 firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business’s revenue was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, equities analysts expect that Coinbase Global will post 1.42 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the transaction, the director owned 30,000 shares of the company’s stock, valued at $5,446,200. The trade was a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 30,627 shares of company stock worth $5,327,841. 16.66% of the stock is owned by company insiders.
Institutional Trading of Coinbase Global
A number of hedge funds have recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC boosted its position in shares of Coinbase Global by 24.2% in the first 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 last quarter. Empowered Funds LLC increased its position in Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after purchasing an additional 1,761 shares during the last quarter. Focus Partners Wealth increased its position in Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after purchasing an additional 467 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Coinbase Global during the second quarter worth approximately $285,000. Finally, Cerity Partners LLC raised its stake in Coinbase Global by 8.6% during the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock worth $6,203,000 after purchasing an additional 1,402 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.
Coinbase Global News Roundup
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
- Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
- Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
- Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global (NASDAQ:COIN)
- Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
- Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
- Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
- Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage
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.
Further Reading
- Five stocks we like better than Coinbase Global
- AMD and Cerbras Create A New Blueprint For Hardware
- Intel Earnings Reveal Whether the Chip Selloff Created a Buy
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.
