Coinbase Global's (COIN) Sell Rating Reaffirmed at HC Wainwright

Coinbase Global (NASDAQ:COIN)'s stock had its "sell" rating restated by analysts at HC Wainwright in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $300.00 price objective on the cryptocurrency exchange's stock, down from their prior price objective of $305.00. HC Wainwright's price target would suggest a potential downside of 22.61% from the company's previous close. HC Wainwright also issued estimates for Coinbase Global's Q2 2025 earnings at $0.72 EPS.

COIN has been the subject of several other research reports. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research note on Monday, May 12th. Canaccord Genuity Group reiterated a "buy" rating and set a $400.00 target price on shares of Coinbase Global in a research report on Friday, May 9th. Needham & Company LLC dropped their target price on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Jefferies Financial Group reiterated a "hold" rating and set a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. dropped their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $298.60.

Coinbase Global Stock Performance

NASDAQ COIN traded down $1.31 during trading hours on Thursday, hitting $387.65. The company had a trading volume of 13,783,223 shares, compared to its average volume of 10,890,245. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $398.56. The company has a market cap of $98.42 billion, a PE ratio of 72.62, a price-to-earnings-growth ratio of 27.35 and a beta of 3.70. The business has a 50 day moving average of $278.42 and a 200-day moving average of $245.80.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned $2.53 EPS. The business's revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the sale, the insider directly owned 82,328 shares of the company's stock, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $338.29, for a total transaction of $8,457,250.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $177,940.54. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 685,915 shares of company stock valued at $222,081,432. Company insiders own 17.65% of the company's stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently made changes to their positions in COIN. Jones Financial Companies Lllp boosted its holdings in shares of Coinbase Global by 125.8% in the 4th quarter. Jones Financial Companies Lllp now owns 490 shares of the cryptocurrency exchange's stock valued at $122,000 after purchasing an additional 273 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Coinbase Global by 23.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock valued at $418,000 after purchasing an additional 325 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Coinbase Global by 10.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,091 shares of the cryptocurrency exchange's stock valued at $3,747,000 after acquiring an additional 1,469 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Coinbase Global by 8.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,704 shares of the cryptocurrency exchange's stock worth $3,900,000 after purchasing an additional 1,240 shares during the period. Finally, Independent Advisor Alliance increased its holdings in Coinbase Global by 31.9% in the 4th quarter. Independent Advisor Alliance now owns 7,488 shares of the cryptocurrency exchange's stock valued at $1,859,000 after purchasing an additional 1,813 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.