Freedom Broker Issues Pessimistic Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Key Points

• Freedom Broker cut Coinbase’s price target from $185 to $175 but maintained a “buy” rating, implying about 30% upside from the prior close.
• Analyst views are mixed: Morgan Stanley downgraded the stock to “underweight” with a $120 target, while JPMorgan raised its target to $189; MarketBeat’s consensus rating is “hold,” with a $209.88 average target.
• Coinbase shares fell 1.5% to $134.76 on Friday, near their 52-week low. Company insiders sold 92,120 shares worth about $18 million over the past 90 days.

Coinbase Global (NASDAQ:COIN - Get Free Report) had its target price reduced by investment analysts at Freedom Broker from $185.00 to $175.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the cryptocurrency exchange's stock. Freedom Broker's price target suggests a potential upside of 29.86% from the company's previous close.

COIN has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on Coinbase Global from $148.00 to $189.00 and gave the stock an "overweight" rating in a research report on Monday, October 26th. Bank of America reiterated a "buy" rating on shares of Coinbase Global in a report on Monday, October 5th. Morgan Stanley lowered shares of Coinbase Global from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $258.00 to $120.00 in a report on Monday. Piper Sandler raised their price target on shares of Coinbase Global from $146.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, October 2nd. Finally, Benchmark dropped their price target on shares of Coinbase Global from $270.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $209.88.

Coinbase Global Trading Down 1.5%

Shares of Coinbase Global stock traded down $2.06 during trading on Friday, hitting $134.76. The company's stock had a trading volume of 7,557,782 shares, compared to its average volume of 10,056,001. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.42 and a quick ratio of 2.42. Coinbase Global has a 52 week low of $131.55 and a 52 week high of $324.80. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of -47.62 and a beta of 3.35. The stock has a 50-day moving average price of $176.47 and a two-hundred day moving average price of $176.73.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total value of $1,789,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 6,838 shares of the business's 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 completion of the transaction, the director directly owned 1,108,972 shares in the company, valued at approximately $219,576,456. This trade represents a 0.61% decrease in their ownership of the stock. 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 ninety days, insiders sold 92,120 shares of company stock worth $17,968,544. Company insiders own 16.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COIN. Financial Freedom LLC purchased a new position in Coinbase Global in the 3rd quarter valued at approximately $98,000. Money Concepts Capital Corp lifted its position in shares of Coinbase Global by 52.8% during the third quarter. Money Concepts Capital Corp now owns 4,366 shares of the cryptocurrency exchange's stock worth $814,000 after acquiring an additional 1,508 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its holdings in shares of Coinbase Global by 30.7% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 422 shares of the cryptocurrency exchange's stock worth $79,000 after acquiring an additional 99 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Coinbase Global by 9.6% in the third quarter. Maryland State Retirement & Pension System now owns 13,350 shares of the cryptocurrency exchange's stock worth $2,489,000 after acquiring an additional 1,174 shares during the period. Finally, Ritholtz Wealth Management purchased a new position in shares of Coinbase Global in the third quarter valued at $246,000. 68.84% of the stock is owned by institutional investors.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase is expanding its services: eligible U.S. users can borrow USDC against tokenized gold, while Coinbase Prime now offers eligible institutions access to Deribit options and perpetual futures. These initiatives could broaden product use and revenue sources. Coinbase Enables Borrowing Against Gold via Morpho Coinbase Prime opens Deribit options and perps to eligible US institutions
• Positive Sentiment: Growing subscription revenue and cost discipline may make the business more resilient than trading fees alone would suggest, though the article also flags profitability and valuation risks. Is Coinbase Building a More Resilient and Profitable Business?
• Neutral Sentiment: Coinbase says more than 99% of customer crypto is held offline and described controls designed to limit hot-wallet exposure, after a major Binance hack raised concerns about exchange security. The reassurance may help maintain customer confidence, but the incident has also put sector-wide security risks in focus. Hackers beware: Coinbase says 99% of customer crypto is kept offline
• Negative Sentiment: Bitcoin’s drop below $76,000 in a broad market sell-off weighed on crypto-linked shares. Coinbase can move more sharply than the wider market because trading fees and earnings tend to track crypto prices and activity. Coinbase Sinks as Bitcoin Falls Below $76,000
• Negative Sentiment: Analysts also cite crypto volatility, weak underlying profits and a rich valuation as risks. Separately, Morgan Stanley’s negative reaction to the Binance breach added pressure despite Coinbase not being affected by that incident. Coinbase business resilience and risks Coinbase gets downgraded for a breach that happened elsewhere

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.