Coinbase Global (NASDAQ:COIN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Coinbase from “strong sell” to “sell,” while the broader analyst consensus remains “hold,” with 20 buy, 13 hold and three sell ratings and an average price target of $216.57.
• Coinbase shares opened at $143.54, well below their 50-day and 200-day moving averages of roughly $179, after the company reported a quarterly loss of $1.36 per share and revenue of $1.22 billion, missing analyst expectations.
• Insiders have been selling shares: company insiders sold 127,188 shares worth approximately $23 million over the past 90 days, while institutional investors own 68.84% of the stock.

Coinbase Global (NASDAQ:COIN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

COIN has been the subject of a number of other research reports. Mizuho decreased their target price on Coinbase Global from $155.00 to $145.00 and set a "neutral" rating for the company in a report on Friday. William Blair reiterated an "outperform" rating on shares of Coinbase Global in a report on Tuesday, September 22nd. Wells Fargo & Company cut their price target on shares of Coinbase Global from $200.00 to $174.00 and set an "equal weight" rating on the stock in a report on Friday. Weiss Ratings raised shares of Coinbase Global from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Finally, Wolfe Research set a $325.00 price objective on shares of Coinbase Global in a research note on Thursday, July 9th. Twenty research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $216.57.

Coinbase Global Stock Performance

Shares of COIN stock opened at $143.54 on Friday. The business has a fifty day moving average of $179.74 and a 200 day moving average of $178.82. Coinbase Global has a 1 year low of $136.89 and a 1 year high of $361.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of -50.72 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.29 billion. Coinbase Global had a negative net margin of 12.46% and a positive return on equity of 0.76%. The firm's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.14 EPS. As a group, research analysts expect that Coinbase Global will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 39,030 shares of Coinbase Global stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 345,376 shares in the company, valued at approximately $70,884,970.24. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc L. Andreessen sold 6,838 shares of Coinbase Global stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $198.00, for a total value of $1,353,924.00. Following the transaction, the director owned 1,108,972 shares of the company's stock, valued at approximately $219,576,456. This represents a 0.61% 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. Insiders have sold 127,188 shares of company stock worth $23,029,558 over the last ninety days. 16.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Archer Investment Corp acquired a new stake in shares of Coinbase Global during the second quarter worth about $26,000. NBT Bank N.A. purchased a new position in shares of Coinbase Global in the third quarter valued at approximately $28,000. Glen Eagle Advisors LLC boosted its stake in shares of Coinbase Global by 101.1% in the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange's stock valued at $31,000 after purchasing an additional 88 shares during the period. Kings Path Partners LLC purchased a new position in shares of Coinbase Global in the third quarter valued at approximately $37,000. Finally, Root Financial Partners LLC acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.84% of the company's stock.

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, exceeding expectations and ending a three-quarter losing streak. Lower operating expenses and gains on the company’s crypto holdings were major contributors. Coinbase net income surges 66% in third quarter
• Positive Sentiment: Coinbase is diversifying beyond spot crypto trading: subscription and services revenue represented about 49% of net revenue, while prediction markets surpassed a $200 million annualized revenue run rate. Management is also targeting stablecoins, tokenized assets and AI-agent payments. Coinbase Q3 earnings call highlights
• Positive Sentiment: The Binance breach could create an opportunity for Coinbase to attract customers seeking a regulated exchange and stronger custody safeguards. Several analysts retained bullish ratings, including HC Wainwright, BTIG and Cantor Fitzgerald. Binance hack could benefit Coinbase
• Neutral Sentiment: Goldman Sachs maintained a Buy rating but reduced its price target to $210, while Needham lowered its target to $197. These targets imply substantial upside but reflect increased near-term uncertainty.
• Neutral Sentiment: Coinbase said customer funds remained safe after an analytics-vendor incident involving contact information for a small subset of customers. The exchange also applied for authorization to continue operating under Brazil’s new crypto rules. Coinbase customer funds statement
• Negative Sentiment: Total revenue fell about 35% year over year to $1.22 billion, while transaction revenue declined sharply as crypto spot-trading volume weakened. Early fourth-quarter transaction revenue also suggested that trading conditions had not materially improved. Weak trading revenue pressures Coinbase
• Negative Sentiment: Investors questioned the quality of the profit because roughly $715 million came from crypto investment gains, leaving adjusted net income near $78 million. Barclays cut its rating to Underweight and lowered its price target to $120; Wells Fargo also reduced its target to $174.
• Negative Sentiment: The Binance hack triggered a broad crypto-equity selloff and raised concerns about stablecoin concentration and control risk, as Circle froze approximately $800 million in USDC and Coinbase reportedly holds nearly 30% of outstanding USDC. Insider sales have also added pressure, with no reported open-market purchases in the past six months. Coinbase USDC concentration

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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