Coinbase Global (NASDAQ:COIN) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “buy” rating on Coinbase Global and set a $240 price target, implying 49.45% potential upside from the prior close.
• Analyst sentiment is mixed overall: 20 analysts rate the stock Buy, 13 Hold and three Sell, resulting in a consensus “Hold” rating and an average price target of $219.60.
• Coinbase’s latest reported quarter showed weaker operating results, including a $1.36 loss per share and an 18.5% year-over-year revenue decline; insiders have also sold more than $23 million of stock over the past 90 days.

Coinbase Global (NASDAQ:COIN - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research report issued on Friday, Marketbeat.com reports. They presently have a $240.00 price objective on the cryptocurrency exchange's stock. HC Wainwright's target price points to a potential upside of 49.45% from the stock's previous close.

COIN has been the topic of a number of other reports. Robert W. Baird lifted their target price on shares of Coinbase Global from $130.00 to $205.00 and gave the stock a "neutral" rating in a research note on Monday, September 28th. Keefe, Bruyette & Woods started coverage on shares of Coinbase Global in a research note on Monday, September 28th. They issued an "outperform" rating and a $237.00 price target for the company. Mizuho set a $155.00 price target on shares of Coinbase Global in a report on Friday, July 31st. Zacks Research raised shares of Coinbase Global from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 9th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, October 21st. Twenty analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $219.60.

Coinbase Global Stock Down 1.1%

Shares of COIN opened at $160.59 on Friday. Coinbase Global has a 52-week low of $139.11 and a 52-week high of $361.40. The company has a market capitalization of $42.37 billion, a PE ratio of -41.82 and a beta of 3.41. The stock has a fifty day simple moving average of $180.32 and a two-hundred day simple moving average of $179.32. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer Jones sold 2,062 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $188.75, for a total transaction of $389,202.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 13,676 shares of Coinbase Global stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $186.18, for a total transaction of $2,546,197.68. Following the sale, the director owned 1,115,810 shares of the company's stock, valued at approximately $207,741,505.80. This represents a 1.21% 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. Over the last ninety days, insiders sold 127,188 shares of company stock worth $23,029,558. 16.66% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrity Alliance LLC. purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at $355,000. Gerber Kawasaki Wealth & Investment Management acquired a new position in Coinbase Global during the 3rd quarter worth about $325,000. BOCHK Asset Management Ltd purchased a new position in Coinbase Global during the 3rd quarter valued at about $7,440,000. Greenleaf Trust boosted its holdings in Coinbase Global by 55.6% during the 3rd quarter. Greenleaf Trust now owns 3,183 shares of the cryptocurrency exchange's stock valued at $593,000 after acquiring an additional 1,138 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Coinbase Global during the 3rd quarter valued at about $10,669,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global News Roundup

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.

About Coinbase Global

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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