Coinbase Global's (COIN) Buy Rating Reiterated at BTIG Research

Coinbase Global (NASDAQ:COIN)'s stock had its "buy" rating reaffirmed by equities research analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $240.00 target price on the cryptocurrency exchange's stock. BTIG Research's price target would indicate a potential upside of 29.21% from the company's current price.

A number of other analysts have also weighed in on COIN. Bank of America reiterated a "buy" rating on shares of Coinbase Global in a report on Monday. Cantor Fitzgerald reiterated an "overweight" rating and set a $212.00 target price on shares of Coinbase Global in a report on Monday, August 31st. Keefe, Bruyette & Woods began coverage on shares of Coinbase Global in a report on Monday, September 28th. They set an "outperform" rating and a $237.00 target price for the company. Raymond James Financial began coverage on shares of Coinbase Global in a report on Wednesday, July 22nd. They set a "market perform" rating for the company. Finally, Zacks Research upgraded shares of Coinbase Global from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 9th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $224.66.

Coinbase Global Stock Performance

NASDAQ COIN opened at $185.74 on Wednesday. The company has a 50-day simple moving average of $174.13 and a two-hundred day simple moving average of $175.48. 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 has a 12-month low of $139.11 and a 12-month high of $402.16. The firm has a market cap of $49.01 billion, a price-to-earnings ratio of -48.37 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 (EPS) 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 business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the previous year, the company earned $5.14 earnings per share. The business's quarterly revenue was down 18.5% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global will post -0.48 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 39,030 shares of the firm's 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 completion of the sale, the chief financial officer directly owned 345,376 shares in the company, valued at $70,884,970.24. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 dated Monday, August 24th. The stock was 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. Over the last ninety days, insiders have sold 127,188 shares of company stock valued at $23,029,558. 16.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Paradigm Operations LP lifted its holdings in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange's stock worth $963,912,000 after buying an additional 134,425 shares during the period. Amova Asset Management Americas Inc. increased its stake in shares of Coinbase Global by 0.8% during the fourth quarter. Amova Asset Management Americas Inc. now owns 1,721,198 shares of the cryptocurrency exchange's stock valued at $389,215,000 after purchasing an additional 13,187 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Coinbase Global during the second quarter valued at approximately $142,995,000. National Pension Service increased its stake in shares of Coinbase Global by 117.1% during the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange's stock valued at $93,784,000 after purchasing an additional 346,045 shares in the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in shares of Coinbase Global during the first quarter valued at approximately $104,766,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

More Coinbase Global News

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

• Positive Sentiment: Coinbase Pro relaunch planned: Coinbase intends to relaunch Coinbase Pro by year-end with spot, futures, perpetuals, options and equities trading. The completed Deribit integration and planned spot-margin trading could broaden products, increase trading activity and strengthen Coinbase’s competitive position. Coinbase Pro relaunch article
• Positive Sentiment: Regulated-market expansion: A Coinbase executive said CFTC approval could accelerate regulated crypto products, institutional Bitcoin access and 24/7 tokenized markets. Coinbase’s connection to global derivatives liquidity is another potential growth driver. CFTC approval article
• Positive Sentiment: Institutional payments opportunity: CEO Brian Armstrong highlighted Coinbase’s partnership with Citigroup to facilitate stablecoin payments for institutional clients, potentially expanding Coinbase’s role as digital-asset infrastructure. Citigroup partnership article
• Positive Sentiment: Favorable legal and analyst developments: A federal judge blocked Illinois from enforcing certain sports-wagering rules against Coinbase and Kalshi, while Bank of America raised its Coinbase price target to $203 and maintained a Buy rating. Kalshi court ruling article

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.