Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Wall Street is mixed on Coinbase: The stock has a consensus rating of “Hold” from 33 analysts, with 18 buys, 12 holds, and 3 sells. The average 12-month price target is about $251.79.
• Recent analyst updates have been mostly positive, but not unanimous: JPMorgan, President Capital, and Citizens JMP raised targets and kept bullish ratings, while Barclays cut its target to $99 with an underweight view. This highlights disagreement over Coinbase’s valuation and earnings outlook.
• Insider selling and recent earnings remain key concerns: Coinbase reported a quarterly EPS loss of $1.49 versus expectations for a small profit, and revenue fell 30.5% year over year. Several insiders also sold shares in recent months, though much of that activity was tied to pre-arranged trading plans.

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned an average recommendation of "Hold" from the thirty-three analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $251.7875.

Several research analysts have recently issued reports on COIN shares. President Capital upped their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of Coinbase Global from $252.00 to $290.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Oppenheimer dropped their price objective on Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. Zacks Research upgraded Coinbase Global from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Finally, Wedbush set a $224.00 target price on Coinbase Global in a report on Friday, May 8th.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global NASDAQ: COIN Given New $325.00 Price Target at Citizens Jmp
• Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
• Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
• Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
• Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the transaction, the insider directly owned 517 shares of the company's stock, valued at $97,718.17. The trade was a 92.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the company's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares of the company's stock, valued at approximately $75,440,200. This trade represents a 2.59% 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. In the last three months, insiders sold 40,647 shares of company stock valued at $7,331,841. 16.66% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC grew its position in Coinbase Global by 24.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock valued at $365,000 after buying an additional 413 shares during the last quarter. Empowered Funds LLC raised its position in Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock worth $1,478,000 after buying an additional 1,761 shares during the last quarter. Focus Partners Wealth raised its position in Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock worth $896,000 after buying an additional 467 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter worth $285,000. Finally, Cerity Partners LLC lifted its stake in shares of Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock worth $6,203,000 after acquiring an additional 1,402 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $159.07 on Monday. Coinbase Global has a 52 week low of $139.18 and a 52 week high of $444.64. The company's 50 day moving average is $173.89 and its two-hundred day moving average is $189.48. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $41.91 billion, a PE ratio of 59.80, a P/E/G ratio of 6.10 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company's revenue was down 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Equities analysts predict that Coinbase Global will post 1.75 earnings per share for the current fiscal year.

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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