Coinbase Global (NASDAQ:COIN) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Coinbase Global from “strong sell” to “hold,” while broader analyst coverage remains mixed. The stock has a consensus “hold” rating and an average price target of $218.74.
• Coinbase shares opened at $172.28, with a market capitalization of approximately $45.45 billion and a 52-week range of $139.11 to $402.16.
• The company’s latest quarter fell short of expectations, reporting a $1.36 adjusted loss per share versus a projected $0.44 loss and revenue of $1.22 billion versus an expected $1.29 billion. Revenue declined 18.5% year over year, highlighting the business’s sensitivity to cryptocurrency-market conditions.

Coinbase Global (NASDAQ:COIN) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks reports.

COIN has been the subject of a number of other research reports. HC Wainwright reiterated a "buy" rating and set a $265.00 price objective on shares of Coinbase Global in a research note on Friday, July 31st. Morgan Stanley assumed coverage on Coinbase Global in a report on Thursday. They set an "equal weight" rating and a $250.00 price target for the company. Argus reaffirmed a "hold" rating on shares of Coinbase Global in a research report on Wednesday, August 26th. Barclays dropped their price target on shares of Coinbase Global from $99.00 to $95.00 and set an "underweight" rating on the stock in a research note on Friday, July 31st. Finally, Robert W. Baird set a $130.00 price objective on shares of Coinbase Global in a research report on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $218.74.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $172.28 on Wednesday. The company has a 50 day simple moving average of $165.24 and a two-hundred day simple moving average of $175.91. Coinbase Global has a fifty-two week low of $139.11 and a fifty-two week high of $402.16. The company has a market capitalization of $45.45 billion, a price-to-earnings ratio of -44.86 and a beta of 3.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.14 earnings per share. Analysts expect that Coinbase Global will post -0.39 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, Director Frederick Wilson sold 35,068 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total transaction of $5,061,013.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Jones sold 2,062 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $188.75, for a total value 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 sold 70,806 shares of company stock worth $11,307,687 over the last quarter. 16.66% of the stock is currently owned by insiders.

Institutional Trading of Coinbase Global

A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in Coinbase Global by 14,352.9% during the second quarter. California State Teachers Retirement System now owns 46,883,279 shares of the cryptocurrency exchange's stock valued at $6,853,867,000 after purchasing an additional 46,558,893 shares in the last quarter. Norges Bank purchased a new stake in Coinbase Global in the fourth quarter worth about $656,744,000. Capital World Investors increased its position in Coinbase Global by 847.2% in the fourth quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange's stock worth $347,472,000 after buying an additional 1,374,318 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Coinbase Global in the second quarter worth about $142,995,000. Finally, Southpoint Capital Advisors LP bought a new position in shares of Coinbase Global in the first quarter worth about $104,766,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase partnered with payments infrastructure provider Moov to bring stablecoin acceptance, settlement and real-time funding to more than 1,000 U.S. community banks and credit unions. The initiative could expand Coinbase’s institutional reach and create additional transaction and custody revenue opportunities. Coinbase partners with Moov to boost community bank stablecoin capabilities before Clarity vote
• Positive Sentiment: CEO Brian Armstrong said stablecoin payment flows could become a major growth driver, projecting significant expansion in the stablecoin market by 2030. He also argued that Bitcoin’s current cycle may have bottomed and reiterated that a $400,000 Bitcoin price by 2030 is a reasonable long-term target. These comments support the company’s growth narrative, although they are forecasts rather than new financial results. Coinbase CEO Confident Stablecoin Payments Will Fuel Growth
• Positive Sentiment: Management continues to broaden Coinbase beyond spot crypto trading through its “Everything Exchange” strategy, tokenized assets, prediction-market infrastructure for Kalshi and expanded USDC yield products in Brazil. Greater product diversification could reduce reliance on transaction revenue over time.
• Neutral Sentiment: Morgan Stanley initiated coverage with an Equal Weight rating and a $250 price target, reflecting substantial potential upside from recent levels but caution that Coinbase remains closely tied to the volatile crypto cycle. Morgan Stanley rates Coinbase as Hold equivalent, with price target set at $250
• Neutral Sentiment: Armstrong said U.S. crypto regulation could advance through SEC and CFTC rulemaking even if the Senate’s September 15 vote on the CLARITY Act fails. The prospect of eventual clarity is favorable, but the vote remains a near-term uncertainty for investors.
• Negative Sentiment: Director Marc Andreessen sold 13,676 shares worth approximately $2.5 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 1.19% and may weigh modestly on sentiment, despite being scheduled in advance. SEC insider transaction filing
• Negative Sentiment: Bitcoin’s recent decline and broader crypto-market weakness are immediate headwinds for Coinbase’s trading activity, revenue and earnings outlook. The company’s latest reported quarter also showed an earnings and revenue miss, underscoring ongoing operating sensitivity to market conditions.

About Coinbase Global

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.

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