Coinbase Global (NASDAQ:COIN) Price Target Lowered to $325.00 at Citizens Jmp

Key Points

• Citizens JMP lowered its price target on Coinbase Global from $355 to $325 while keeping a “market outperform” rating, still implying significant upside from the recent share price.
• Analyst sentiment remains mixed overall: Coinbase has 18 Buy ratings, 12 Hold ratings, and 3 Sell ratings, with the consensus price target at $251.79.
• Coinbase’s latest earnings were weak, as it reported -$1.49 EPS versus expectations for a profit and revenue of $1.41 billion, down 30.5% year over year.

Coinbase Global (NASDAQ:COIN) had its price objective decreased by equities researchers at Citizens Jmp from $355.00 to $325.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the cryptocurrency exchange's stock. Citizens Jmp's price objective would suggest a potential upside of 104.69% from the company's previous close.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Sanford C. Bernstein decreased their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an "outperform" rating for the company in a report on Monday, March 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Coinbase Global in a research note on Wednesday, June 17th. Compass Point reaffirmed a "sell" rating on shares of Coinbase Global in a research report on Monday, June 1st. Finally, Rothschild & Co Redburn lifted their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of "Hold" and an average price target of $251.79.

Coinbase Global Trading Down 0.4%

COIN opened at $158.78 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The stock's 50 day moving average price is $175.05 and its 200-day moving average price is $190.72. Coinbase Global has a one year low of $139.18 and a one year high of $444.64. The stock has a market cap of $41.83 billion, a price-to-earnings ratio of 59.88, a P/E/G ratio of 5.77 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Coinbase Global's revenue was down 30.5% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global will post 1.74 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the transaction, the director owned 20,000 shares of the company's stock, valued at approximately $3,181,800. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. 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 have sold 40,647 shares of company stock worth $7,331,841. 16.66% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of COIN. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange's stock worth $5,970,285,000 after purchasing an additional 184,043 shares during the last quarter. Geode Capital Management LLC grew its stake in Coinbase Global by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange's stock valued at $1,374,080,000 after purchasing an additional 189,080 shares during the last quarter. Paradigm Operations LP grew its stake in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange's stock valued at $963,912,000 after purchasing an additional 134,425 shares during the last quarter. Norges Bank bought a new position in Coinbase Global in the fourth quarter worth about $656,744,000. Finally, ARK Investment Management LLC lifted its position in shares of Coinbase Global by 6.1% during the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange's stock valued at $574,832,000 after buying an additional 146,388 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase received U.K. authorization to provide investment services, allowing it to offer equities and derivatives in addition to crypto in one platform. Investors may view this as a meaningful international growth catalyst and a sign Coinbase is broadening beyond transaction-heavy crypto trading. Coinbase restores prediction markets trading after technical issue
• Positive Sentiment: Coinbase also added new trading features, including margin support for Filecoin and spot trading for Wormhole, which suggests continued product expansion and more ways to drive engagement and fee revenue. Coinbase Filecoin Margin Trading Adds Leverage To The Storage Token Trade
• Positive Sentiment: Analyst commentary ahead of Coinbase’s quarterly report pointed to expectations for strong bottom-line growth, keeping attention on potential earnings upside if trading volumes improve. Coinbase Global Earnings Preview: What to Expect
• Neutral Sentiment: Coinbase restored prediction markets trading after a technical issue briefly prevented users from placing trades. The fix limits lasting damage, but the outage may remind investors that platform reliability remains important as Coinbase expands into more products. Coinbase restores prediction markets trading after technical issue
• Neutral Sentiment: Broader crypto sentiment has been weak, with bitcoin and other major tokens falling on geopolitical tensions. That can weigh on Coinbase because its trading revenue is closely tied to crypto market activity. Bitcoin, Ethereum, XRP, Dogecoin Slide as Trump Warns Iran Strikes Could Get 'Much Worse'
• Neutral Sentiment: Coinbase-backed Base is gaining traction, with strong DEX volume and a new token standard for stablecoins and tokenized assets. This supports the long-term ecosystem story, but it is still early-stage for earnings impact. Base to activate B20 standard for stablecoins, RWAs and other tokens

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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