Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analyst sentiment is mixed: Coinbase has an average rating of "Hold" from 33 analysts, with 19 buy ratings, 10 holds, and 4 sells. The average 12-month price target is $252.20.
• Recent crypto weakness is pressuring the stock: Falling Bitcoin and Ethereum prices, along with a negative Coinbase premium and reported institutional selling/ETF outflows, have weighed on sentiment and may reduce near-term trading volumes.
• Latest earnings missed expectations: Coinbase reported ($1.49) EPS versus a $0.06 estimate, while revenue of $1.41 billion also came in below forecasts and fell 30.5% year over year.

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned an average recommendation of "Hold" from the thirty-three analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and nineteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $252.20.

Several research firms have recently weighed in on COIN. Wedbush set a $224.00 price objective on shares of Coinbase Global in a research report on Friday, May 8th. Sanford C. Bernstein reduced their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. China Renaissance reduced their price objective on shares of Coinbase Global from $301.50 to $223.20 and set a "buy" rating for the company in a research report on Monday, February 23rd. Benchmark reduced their price objective on shares of Coinbase Global from $267.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group reduced their price objective on shares of Coinbase Global from $400.00 to $300.00 and set a "buy" rating for the company in a research report on Friday, February 13th.

Coinbase Global News Summary

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

• Negative Sentiment: Bitcoin and Ethereum fell, weighing on crypto-related stocks and dragging Coinbase lower alongside other trading platforms like Robinhood. Coinbase and Other Crypto Stocks Are Falling. Several Possible Reasons for the Bad Day.
• Negative Sentiment: Crypto market sentiment has been hurt by Bitcoin slipping into the mid-$70,000s, a negative Coinbase premium, and reports of institutional selling and ETF outflows, all of which point to softer near-term trading volumes for Coinbase. Coinbase premium hits monthly low as institutional selling pressure mounts
• Neutral Sentiment: Coinbase continues to expand its product set, including launching perpetual-style equity index futures in June and supporting new stablecoin infrastructure, which could help diversify revenue over time. Traders Get AI, Defense, and China Perp Futures on Coinbase Starting June 8
• Neutral Sentiment: Management also highlighted AI-driven compliance improvements and faster resolution times, which is supportive for operating efficiency but not enough to offset the crypto selloff today. Coinbase CEO Brian Armstrong Says AI Is Doing 'Most Of The Heavy Lifting' In Compliance As Resolution Times Improve By 90%

Coinbase Global Stock Performance

NASDAQ:COIN opened at $184.99 on Friday. Coinbase Global has a twelve month low of $139.36 and a twelve month high of $444.64. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $190.49 and a 200-day moving average of $216.73. The firm has a market cap of $48.74 billion, a price-to-earnings ratio of 69.55, a price-to-earnings-growth ratio of 6.74 and a beta of 3.38.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.06%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business posted $0.24 EPS. The business's revenue for the quarter was down 30.5% on a year-over-year basis. Analysts forecast that Coinbase Global will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the company's stock in a transaction dated Wednesday, March 4th. 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 directly owned 397,171 shares of the company's stock, valued at approximately $79,434,200. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 29,990 shares of company stock worth $6,013,920. Company insiders own 16.66% of the company's stock.

Institutional Trading of Coinbase Global

Hedge funds have recently bought and sold shares of the company. West Family Investments Inc. lifted its position in shares of Coinbase Global by 3.3% in the third quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange's stock worth $347,000 after purchasing an additional 33 shares in the last quarter. Waterfront Wealth Inc. lifted its position in shares of Coinbase Global by 4.8% in the third quarter. Waterfront Wealth Inc. now owns 760 shares of the cryptocurrency exchange's stock worth $241,000 after purchasing an additional 35 shares in the last quarter. Howard Capital Management Inc. lifted its position in shares of Coinbase Global by 2.9% in the third quarter. Howard Capital Management Inc. now owns 1,284 shares of the cryptocurrency exchange's stock worth $433,000 after purchasing an additional 36 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Coinbase Global by 1.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,913 shares of the cryptocurrency exchange's stock worth $983,000 after purchasing an additional 37 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Coinbase Global by 32.2% in the third quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange's stock worth $51,000 after purchasing an additional 37 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Company Profile

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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