Coinbase Global (NASDAQ:COIN) Given New $280.00 Price Target at Citizens Jmp

Key Points

• Citizens Jmp cut Coinbase’s price target from $325 to $280 while maintaining a “market outperform” rating, implying 62.79% upside from the reported $172 share price.
• Analyst sentiment is mixed overall: Coinbase has a consensus “Hold” rating and an average target price of $224.29, despite 20 Buy ratings.
• Recent results were weaker than expected, with a quarterly loss of $1.36 per share versus a $0.44 expected loss and revenue of $1.22 billion below estimates; insiders have also sold about $23 million of stock over the past 90 days.

Coinbase Global (NASDAQ:COIN) had its price objective cut by equities researchers at Citizens Jmp from $325.00 to $280.00 in a report released on Friday, Benzinga reports. The firm currently has a "market outperform" rating on the cryptocurrency exchange's stock. Citizens Jmp's price objective indicates a potential upside of 62.79% from the stock's current price.

A number of other research analysts have also recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Tuesday, July 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $212.00 price objective on shares of Coinbase Global in a report on Monday, August 31st. Morgan Stanley began coverage on Coinbase Global in a research note on Thursday, September 10th. They issued an "equal weight" rating and a $250.00 price objective on the stock. Benchmark dropped their price objective on shares of Coinbase Global from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $244.00 target price on shares of Coinbase Global in a research report on Wednesday. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and a consensus target price of $224.29.

Coinbase Global Trading Down 3.6%

COIN opened at $172.00 on Friday. 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 fifty-two week low of $139.11 and a fifty-two week high of $402.16. The company's 50 day moving average price is $174.67 and its two-hundred day moving average price is $175.13. The firm has a market capitalization of $45.38 billion, a price-to-earnings ratio of -44.79 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (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 the consensus estimate of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The firm's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.14 EPS. As a group, research analysts predict that Coinbase Global will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 39,030 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $205.24, for a total value of $8,010,517.20. Following the sale, the chief financial officer directly owned 345,376 shares of the company's stock, valued at approximately $70,884,970.24. This represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $188.75, for a total transaction of $389,202.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,188 shares of company stock worth $23,029,558 in the last 90 days. 16.66% of the stock is owned by company insiders.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of COIN. Paradigm Operations LP lifted its stake in Coinbase Global by 3.3% in the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange's stock worth $963,912,000 after purchasing an additional 134,425 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Coinbase Global during the 2nd quarter valued at $142,995,000. Hsbc Holdings PLC increased its holdings in shares of Coinbase Global by 10.6% in the fourth quarter. Hsbc Holdings PLC now owns 482,427 shares of the cryptocurrency exchange's stock worth $109,635,000 after purchasing an additional 46,319 shares during the period. Southpoint Capital Advisors LP bought a new position in shares of Coinbase Global in the first quarter worth $104,766,000. Finally, National Pension Service raised its position in shares of Coinbase Global by 117.1% in 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 in the last quarter. 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: Samsung partnership expands USDC distribution. Coinbase and Samsung plan to make USDC the default dollar stablecoin in Samsung Wallet for eligible U.S. Galaxy users, potentially reaching as many as 82 million devices. The rollout could increase USDC balances, payment activity and Coinbase’s stablecoin-related revenue opportunities. 82 Million Galaxy Devices Will Support USDC Transfers This October
• Positive Sentiment: Broader derivatives and trading offerings support diversification. Coinbase completed its Deribit integration, giving eligible U.S. customers access to global options and perpetual-futures liquidity through its regulated platform. Coinbase also plans to revive the Coinbase Pro brand by year-end with crypto options, stock trading and additional tools, which could attract more active traders and diversify transaction revenue. Coinbase brings global crypto derivatives liquidity to US with Deribit integration
• Positive Sentiment: Analyst support remains constructive. BTIG reiterated a Buy rating and a $240 price target, citing strengthening fundamentals and Coinbase’s growing diversification. Separately, commentary highlighted record USDC balances and potential recurring revenue across payments, custody, lending, trading and the Base network. BTIG Reiterates Buy on Coinbase
• Neutral Sentiment: Government Bitcoin transfers create uncertainty. The U.S. government moved approximately $1.87 billion of seized Bitcoin, including transfers to Coinbase Prime, but analysts found no confirmed sale. The transactions could increase market-supply concerns, although they may also generate custody or execution activity for Coinbase. US government moves seized Bitcoin to Coinbase Prime
• Negative Sentiment: Michigan is removing Coinbase sports prediction markets. Coinbase will discontinue sports prediction markets for Michigan customers amid regulatory pressure from the state attorney general. The move is likely a limited revenue setback but underscores the compliance risks facing Coinbase’s expansion into prediction markets. Coinbase Users in Michigan Will Lose Sports Markets

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.

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