Coinbase Global (NASDAQ:COIN) Earns Buy Rating from Benchmark

Key Points

• Benchmark reiterated a Buy rating on Coinbase Global and maintained a $270 price target, implying about 59% upside from the current share price.
• Wall Street sentiment remains mixed but generally constructive: 18 analysts rate COIN a Buy, while the consensus rating is still Hold with an average target of $250.55.
• Coinbase’s recent earnings were weak, with EPS of -$1.49 and revenue of $1.41 billion missing expectations, even as the company continues to draw attention from investors and analysts.

Coinbase Global (NASDAQ:COIN)'s stock had its "buy" rating reiterated by equities research analysts at Benchmark in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $270.00 target price on the cryptocurrency exchange's stock. Benchmark's target price points to a potential upside of 59.09% from the stock's current price.

A number of other brokerages have also recently issued reports on COIN. Robert W. Baird cut their price objective on Coinbase Global from $160.00 to $142.00 and set a "neutral" rating for the company in a report on Friday, June 5th. Mizuho boosted their price objective on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. China Renaissance cut their price target on Coinbase Global from $301.50 to $223.20 and set a "buy" rating on the stock in a research note on Monday, February 23rd. BTIG Research reiterated a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a report on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of Coinbase Global in a report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $250.55.

Coinbase Global Price Performance

Shares of COIN stock traded up $0.45 during mid-day trading on Wednesday, reaching $169.72. The company's stock had a trading volume of 750,111 shares, compared to its average volume of 11,054,192. The firm's 50-day moving average is $184.95 and its two-hundred day moving average is $202.67. The company has a market cap of $44.71 billion, a P/E ratio of 63.72, a PEG ratio of 5.40 and a beta of 3.32. Coinbase Global has a 1-year low of $139.36 and a 1-year high of $444.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. Coinbase Global's revenue was down 30.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. On average, research analysts predict that Coinbase Global will post 1.93 earnings per share for the current year.

Insider Activity

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the sale, the insider directly owned 517 shares in the company, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the completion of the transaction, the director owned 30,000 shares of the company's stock, valued at $5,446,200. This trade represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,647 shares of company stock worth $5,740,941. Corporate insiders own 16.66% of the company's stock.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of COIN. Norges Bank bought a new position in Coinbase Global during the fourth quarter worth about $656,744,000. Capital World Investors increased its position 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 during the period. Ruffer LLP acquired a new stake in Coinbase Global in the 4th quarter worth about $166,515,000. Artisan Partners Limited Partnership acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $224,663,000. Finally, Southpoint Capital Advisors LP acquired a new position in Coinbase Global in the 1st quarter valued at $104,766,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Rosenblatt Securities reaffirmed a Buy rating and set a $240 price target, implying meaningful upside from current levels. Rosenblatt Securities Reaffirms Buy on Coinbase Global
• Positive Sentiment: BTIG Research also reaffirmed a Buy rating and raised its target to $280, while Needham reiterated Buy with a $220 target, signaling continued Wall Street confidence in Coinbase’s growth story. BTIG Reaffirms Buy on Coinbase Global
• Positive Sentiment: Coinbase launched an AI-powered investment advisor and broader AI trading tools, which could deepen user engagement and help the company expand beyond basic exchange services into a higher-value platform. Coinbase is launching AI tools that give investment advice and make trades on your behalf
• Positive Sentiment: The company expanded into tokenized stocks, stock/ETF transfers, and other traditional-finance products, reinforcing the “everything exchange” strategy and broadening its addressable market. Coinbase lets users transfer stock portfolios as exchange expands beyond crypto
• Neutral Sentiment: Coverage around Coinbase’s CEO discussing tokenized equities, AI, and market structure reforms keeps the stock in focus, but these items are more about narrative and visibility than immediate fundamentals. Analyst Reaffirms Buy on Coinbase
• Negative Sentiment: Some commentary still highlights Coinbase’s dependence on crypto-market sentiment and Bitcoin volatility, which can keep the stock highly reactive if digital-asset prices weaken. Coinbase jumps as bitcoin rebound lifts crypto-linked stocks

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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