Coinbase Global (NASDAQ:COIN) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut Coinbase’s price target from $200 to $174 while maintaining an “equal weight” rating, implying 24.16% upside from the prior close. The broader analyst consensus remains “Hold,” with a $217.63 target.
• Coinbase shares fell 12.7% to $140.14, near the company’s 12-month low, after the exchange reported a quarterly loss of $1.36 per share and revenue of $1.22 billion, below analyst expectations.
• Recent insider activity has been negative, with executives selling 127,188 shares worth about $23 million over three months, while analysts have issued mixed views ranging from “Sell” to “Outperform.”

Coinbase Global (NASDAQ:COIN - Get Free Report) had its target price decreased by investment analysts at Wells Fargo & Company from $200.00 to $174.00 in a report released on Friday, Benzinga reports. The brokerage presently has an "equal weight" rating on the cryptocurrency exchange's stock. Wells Fargo & Company's target price would suggest a potential upside of 24.16% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. Benchmark lowered their price objective on Coinbase Global from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price objective on shares of Coinbase Global in a research note on Thursday. Piper Sandler lifted their target price on Coinbase Global from $146.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, October 2nd. Needham & Company LLC reduced their price objective on Coinbase Global from $205.00 to $197.00 and set a "buy" rating for the company in a research note on Friday. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $330.00 target price 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 given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and a consensus price target of $217.63.

Coinbase Global Stock Down 12.7%

NASDAQ:COIN traded down $20.45 during midday trading on Friday, reaching $140.14. 10,249,582 shares of the stock traded hands, compared to its average volume of 10,000,203. Coinbase Global has a 12-month low of $136.89 and a 12-month high of $361.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a market capitalization of $36.98 billion, a PE ratio of -36.57 and a beta of 3.41. The business has a 50-day moving average of $180.32 and a two-hundred day moving average of $179.32.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share 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 positive return on equity of 3.12% and a negative net margin of 15.72%. The firm's revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.14 EPS. On average, equities analysts forecast that Coinbase Global will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 2,062 shares of Coinbase Global stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $205.24, for a total value of $8,010,517.20. Following the transaction, the chief financial officer owned 345,376 shares in the company, valued at approximately $70,884,970.24. This trade represents a 10.15% decrease in their position. 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 three months, insiders sold 127,188 shares of company stock worth $23,029,558. Corporate insiders own 16.66% of the company's stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of COIN. Integrity Alliance LLC. purchased a new position in shares of Coinbase Global in the third quarter worth $355,000. Gerber Kawasaki Wealth & Investment Management purchased a new stake in shares of Coinbase Global in the third quarter worth $325,000. BOCHK Asset Management Ltd bought a new position in Coinbase Global in the 3rd quarter worth about $7,440,000. Greenleaf Trust lifted its position in Coinbase Global by 55.6% in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Coinbase Global in the 3rd quarter worth $10,669,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase reported approximately $719 million in Q3 net income and returned to profitability after several loss-making quarters. Prediction markets surpassed $200 million in annualized revenue, while subscription and services revenue increased sequentially. Coinbase Q3 Earnings Show 66% Profit Jump as Prediction Markets Grow
• Positive Sentiment: Several analysts maintained bullish ratings, including BTIG, HC Wainwright, Cantor Fitzgerald, Needham and Rosenblatt, although some reduced their price targets. Coinbase also said customer funds were safe after a data incident at analytics vendor Amplitude, and it is pursuing authorization to continue operating in Brazil. Coinbase seeks Brazil crypto license
• Neutral Sentiment: Coinbase added Ripple’s RLUSD stablecoin to its retail, exchange and institutional platforms, potentially supporting future transaction and stablecoin-related revenue, but the immediate financial impact remains unclear. Ripple Brings Its Stablecoin to Coinbase’s Trading Platforms
• Negative Sentiment: Q3 revenue fell roughly 35% year over year to about $1.22 billion, while transaction revenue declined 44% to approximately $590 million. The company’s $719 million GAAP profit was largely supported by a roughly $715 million gain on crypto holdings; adjusted net income was only about $78 million, highlighting weak core operating momentum. Coinbase Profit Is Mostly Crypto Gains
• Negative Sentiment: Management’s report of approximately $165 million in transaction revenue through October 25 and Q4 subscription-and-services guidance of $550 million to $630 million reinforced concerns that trading volumes remain soft. Barclays lowered its target to $120 and assigned an underweight rating. Barclays Coinbase rating
• Negative Sentiment: Insider activity is an additional overhang: reported open-market transactions show 71 sales and no purchases over the past six months. A major Binance hack also increased broader concerns about crypto-sector security and investor confidence. Coinbase insider sale plans and shrinking revenue

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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