Coinbase Global (NASDAQ:COIN) Downgraded to "Underweight" Rating by Barclays

Key Points

• Barclays downgraded Coinbase from "equal weight" to "underweight" and cut its price target to $140 (from $148), implying roughly a 20% downside from the stock's current level.
• The analyst picture is mixed — MarketBeat shows 19 buys, 10 holds and 4 sells, with a consensus rating of "Hold" and a consensus price target of $262.27.
• Recent fundamentals and insider activity are headwinds: Coinbase missed quarterly EPS and revenue estimates (EPS $0.66 vs $0.83; revenue $1.78B vs $1.86B, revenue down 21.6% YoY), and insiders sold about 396,745 shares (~$63.6M) over the last 90 days.

Coinbase Global (NASDAQ:COIN) was downgraded by analysts at Barclays from an "equal weight" rating to an "underweight" rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $140.00 price target on the cryptocurrency exchange's stock, down from their prior price target of $148.00. Barclays's price objective points to a potential downside of 20.08% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Compass Point cut their target price on shares of Coinbase Global from $190.00 to $140.00 and set a "sell" rating for the company in a research note on Friday, February 20th. Citigroup cut their target price on shares of Coinbase Global from $505.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, February 6th. Mizuho cut their target price on shares of Coinbase Global from $280.00 to $170.00 and set a "neutral" rating for the company in a research note on Tuesday, February 17th. Needham & Company LLC cut their target price on shares of Coinbase Global from $290.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Finally, The Goldman Sachs Group cut their target price on shares of Coinbase Global from $270.00 to $235.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. Nineteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of "Hold" and a consensus price target of $262.27.

Coinbase Global Stock Up 0.2%

COIN opened at $175.18 on Wednesday. Coinbase Global has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34. The company has a fifty day moving average of $180.24 and a two-hundred day moving average of $248.92. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 3.31 and a beta of 3.60.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.86 billion. Coinbase Global had a net margin of 17.55% and a return on equity of 8.68%. The firm's quarterly revenue was down 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.68 EPS. On average, research analysts expect that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 364,600 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $154.95, for a total value of $56,494,770.00. Following the transaction, the chief financial officer directly owned 402,165 shares in the company, valued at approximately $62,315,466.75. This represents a 47.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the company's stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $260.09, for a total transaction of $715,247.50. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 396,745 shares of company stock worth $63,576,559. Company insiders own 16.56% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter worth approximately $656,744,000. Vanguard Group Inc. lifted its holdings in Coinbase Global by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange's stock worth $8,847,905,000 after buying an additional 2,007,930 shares in the last quarter. Capital World Investors lifted its holdings in Coinbase Global by 847.2% during the 4th 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. Ruffer LLP acquired a new stake in Coinbase Global during the 4th quarter worth approximately $166,515,000. Finally, Artisan Partners Limited Partnership acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $224,663,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Secured Australian financial-services license (AFSL) — Coinbase plans to offer crypto and equity perpetuals now and expand into stock trading, futures, options, payments and other TradFi products in Australia, positioning the firm as an “everything exchange” in APAC and opening new revenue channels. Coinbase plans expansion to stock trading in Australia after securing license
• Positive Sentiment: Conditional OCC national trust bank approval — the conditional nod to form Coinbase National Trust Company strengthens Coinbase’s regulated custody and payments credentials for institutional clients, a potential catalyst for higher recurring revenue from custody, settlement and tokenized products. Coinbase (COIN) Is Up 8.7% After Winning Conditional National Trust Bank Approval
• Positive Sentiment: Bitcoin technical breakout/price bounce — analysts highlight a deviation from the January bearish trend and a move above prior cycle highs (~$69k). As a high‑beta crypto proxy, Coinbase tends to benefit from Bitcoin rallies via trading volume and sentiment flows. Bitcoin Just Deviated From The Bearish Trend That Began In January And $86,000 Could Be Next
• Neutral Sentiment: Quantum‑computing security debate — Google’s warning about long‑term quantum risks to Bitcoin/Ethereum has pushed Coinbase to publicly press for industry action. This raises long‑term infrastructure questions (and potential capex/costs) but also positions Coinbase as proactive on security. Google Quantum Warning Puts Coinbase Crypto Security Plans In Focus
• Neutral Sentiment: Market headlines and product distribution dynamics — reports that Charles Schwab and others are moving into crypto trading have created short‑term volatility: such headlines can lift sector stocks but may compress Coinbase’s retail/clearing economics over time. Coinbase Jumps On Schwab News But Gains Fade; Is Coinbase Stock A Buy Now?
• Negative Sentiment: Binance.US comeback plans — Binance.US is pushing into derivatives and prediction markets and aims to regain market share with a compliance focus; renewed competition in derivatives/alt products could pressure Coinbase’s growth and margins in US retail/institutional segments. Binance.US Plans Market Return with Derivatives, Prediction Markets Push
• Negative Sentiment: Heavy insider selling and mixed institutional flows — filings and data show substantial insider sales (many executives selling, few purchases) and notable shifts among large asset managers; this can be a negative signal for sentiment even as analysts maintain multiple buy ratings. Coinbase gains as bitcoin bounces and regulatory/custody tailwinds stay in focus

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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