Coinbase Global (NASDAQ:COIN) Earns Buy Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “buy” rating on Coinbase Global and set a $240 price target, implying approximately 49.45% upside from the cited share price.
• Analyst views remain mixed: 20 analysts rate the stock a Buy, 13 a Hold and three a Sell, resulting in a consensus “Hold” rating and an average price target of $219.60.
• Coinbase’s latest cited quarter missed expectations, with a loss of $1.36 per share versus the $0.44 expected and revenue of $1.22 billion versus estimates of $1.29 billion. Insiders have also sold approximately $23 million of shares over the past 90 days.

Coinbase Global (NASDAQ:COIN - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at BTIG Research in a research report issued on Friday, Benzinga reports. They presently have a $240.00 price objective on the cryptocurrency exchange's stock. BTIG Research's price target indicates a potential upside of 49.45% from the stock's current price.

A number of other equities analysts also recently issued reports on COIN. Benchmark cut their price target on shares of Coinbase Global from $270.00 to $230.00 and set a "buy" rating for the company in a report on Friday, July 31st. Sanford C. Bernstein reissued an "outperform" rating and set a $330.00 price objective on shares of Coinbase Global in a report on Friday, July 31st. Needham & Company LLC upped their target price on shares of Coinbase Global from $200.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. Compass Point reaffirmed a "neutral" rating and issued a $187.00 target price on shares of Coinbase Global in a report on Friday, October 9th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $300.00 price target on shares of Coinbase Global in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $219.60.

Coinbase Global Trading Down 1.1%

Shares of COIN stock opened at $160.59 on Friday. The business's fifty day moving average price is $180.32 and its 200 day moving average price is $179.32. The firm has a market capitalization of $42.37 billion, a PE ratio of -41.82 and a beta of 3.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. Coinbase Global has a 1-year low of $139.11 and a 1-year high of $361.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. Coinbase Global's revenue was down 18.5% compared to the same quarter last year. During the same period last year, the business posted $5.14 EPS. As a group, sell-side analysts forecast that Coinbase Global will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 39,030 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the sale, the chief financial officer owned 345,376 shares in the company, valued at approximately $70,884,970.24. This represents a 10.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total value of $5,061,013.76. 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 90 days, insiders have sold 127,188 shares of company stock valued at $23,029,558. 16.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Bank of New York Mellon Corp acquired a new position in shares of Coinbase Global in the second quarter valued at approximately $142,995,000. Southpoint Capital Advisors LP purchased a new position in Coinbase Global during the first quarter worth about $104,766,000. National Pension Service lifted its position in Coinbase Global by 117.1% during the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange's stock worth $93,784,000 after buying an additional 346,045 shares during the period. Assenagon Asset Management S.A. lifted its position in Coinbase Global by 103.2% during the third quarter. Assenagon Asset Management S.A. now owns 314,338 shares of the cryptocurrency exchange's stock worth $58,889,000 after buying an additional 159,636 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Coinbase Global by 1.8% in the 1st quarter. California State Teachers Retirement System now owns 324,386 shares of the cryptocurrency exchange's stock worth $56,641,000 after buying an additional 5,758 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, reversing a mult quarter losing streak and exceeding analysts’ expectations. Operating expenses fell 13% sequentially, helping profitability. Coinbase Q3 earnings
• Positive Sentiment: Prediction markets surpassed $200 million in annualized revenue, Coinbase One subscribers reached a record, and subscription and services revenue increased 3% sequentially to $570.2 million. These trends support management’s strategy of diversifying beyond spot-crypto trading. Prediction markets growth
• Positive Sentiment: Coinbase added Ripple’s RLUSD stablecoin across its retail, exchange and institutional platforms, potentially increasing stablecoin-related activity and revenue. It also applied for authorization under Brazil’s new crypto rules and expects no service disruption while its application is reviewed. RLUSD availability
• Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating and assigned a $200 price target, implying considerable upside from the reference price. Rosenblatt rating
• Neutral Sentiment: Coinbase CEO Brian Armstrong said quantum computing represents a more serious long-term cryptocurrency security threat than artificial intelligence. He characterized the issue as a matter of “when, not if,” though it is not an immediate earnings driver. Armstrong on quantum computing
• Negative Sentiment: Revenue was about $1.216 billion, down roughly 35% from a year earlier. Transaction revenue was approximately $590 million, while fourth-quarter subscription and services guidance of $550 million to $630 million suggests limited near-term acceleration. Coinbase profit composition
• Negative Sentiment: Approximately $715 million of the quarterly profit came from gains on Coinbase’s cryptocurrency holdings, making the headline earnings figure less representative of recurring operating performance. Coinbase crypto gains
• Negative Sentiment: A security incident at analytics vendor Amplitude exposed contact information for a small subset of customers. Coinbase said its systems and customer funds were not compromised, but the incident could increase reputational and fraud concerns. Customer contact-data incident
• Negative Sentiment: Reported insider activity has been overwhelmingly selling, including planned sales by senior executives and founders, which may weigh on sentiment despite not changing the company’s fundamentals directly.

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.

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