Coinbase Global, Inc. (NASDAQ:COIN) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Analysts’ consensus is “Hold”: Of 37 firms covering Coinbase, 21 rate it Buy, 12 Hold and 4 Sell; the average one-year price target is $207.92. Recent target changes were mixed, including Barclays cutting its target to $120 and JPMorgan raising its target to $189.
• Coinbase shares fell 2.3% to $127.64 in Friday mid-day trading, close to their 52-week low of $125.38 and well below the 52-week high of $292.76.
• Company insiders sold 92,120 shares worth about $18 million over the past 90 days, including sales by Director Frederick Wilson and CFO Alesia Haas; insiders still own 16.66% of the stock.

Coinbase Global, Inc. (NASDAQ:COIN - Get Free Report) has been given an average rating of "Hold" by the thirty-seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $207.92.

COIN has been the subject of several analyst reports. Barclays decreased their target price on Coinbase Global from $149.00 to $120.00 and set an "underweight" rating for the company in a research report on Friday, October 30th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Friday, July 31st. BTIG Research reissued a "buy" rating and set a $240.00 price objective on shares of Coinbase Global in a research note on Friday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $148.00 to $189.00 and gave the stock an "overweight" rating in a research note on Monday, October 26th. Finally, Citigroup restated a "market outperform" rating on shares of Coinbase Global in a report on Friday, October 30th.

Insider Activity

In other news, Director Frederick Wilson sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $178.93, for a total transaction of $1,789,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia Haas sold 39,030 shares of the business's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $205.24, for a total value of $8,010,517.20. Following the completion of the transaction, the chief financial officer directly owned 345,376 shares of the company's stock, valued at approximately $70,884,970.24. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 92,120 shares of company stock valued at $17,968,544. 16.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP increased its position in shares of Coinbase Global by 694.0% during the third quarter. Entropy Technologies LP now owns 75,872 shares of the cryptocurrency exchange's stock worth $14,143,000 after acquiring an additional 66,316 shares in the last quarter. L2 Asset Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $241,000. Empowered Funds LLC boosted its stake in Coinbase Global by 161.1% in the 3rd quarter. Empowered Funds LLC now owns 35,803 shares of the cryptocurrency exchange's stock worth $6,674,000 after purchasing an additional 22,092 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Coinbase Global by 53.6% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,801 shares of the cryptocurrency exchange's stock worth $895,000 after purchasing an additional 1,676 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in Coinbase Global by 6.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 205,482 shares of the cryptocurrency exchange's stock worth $38,304,000 after purchasing an additional 12,058 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Down 2.3%

COIN traded down $3.03 during mid-day trading on Friday, reaching $127.64. The stock had a trading volume of 7,899,311 shares, compared to its average volume of 8,342,019. The stock has a market capitalization of $33.79 billion, a P/E ratio of -45.10 and a beta of 3.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.42 and a current ratio of 2.42. The firm's fifty day simple moving average is $170.39 and its two-hundred day simple moving average is $174.12. Coinbase Global has a 52 week low of $125.38 and a 52 week high of $292.76.

Latest Coinbase Global News

These are some of the COIN news items that stood out recently:

• Positive Sentiment: Coinbase’s national trust company received final approval, giving its custody business a federal framework and potentially helping it attract institutional clients and expand into stablecoin services. Coinbase Strengthens Crypto Custody With National Trust Launch
• Negative Sentiment: A Louisiana judge temporarily barred Coinbase and other firms from offering event contracts in the state and ordered them to geofence users there, constraining prediction-market activity locally. Louisiana Judge Orders Kalshi, Polymarket to Halt Event Contracts
• Negative Sentiment: Analyst estimates have moved lower: one fair-value estimate fell to $196.56 from $211.12, while B. Riley cut its price target to $150 from $203 and maintained a Neutral rating. Separately, recent coverage noted third-quarter transaction revenue fell 44% year over year, while much of reported profit came from crypto gains. Coinbase (COIN) Stock Fair Value Moves Lower After Mixed Analyst Target Changes

About Coinbase Global

Coinbase Global operates a cryptocurrency platform serving individual consumers, businesses and institutional clients. Its services include buying, selling and holding digital assets, as well as trading tools and cryptocurrency custody services. The company also offers products for developers and businesses building on blockchain networks, including Base, its Ethereum layer-2 network. Coinbase supports the USDC stablecoin through its partnership with Circle and provides services such as staking and payment infrastructure.

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