President Capital Forecasts Strong Price Appreciation for Coinbase Global (NASDAQ:COIN) Stock

Key Points

• President Capital raised its price target on Coinbase Global from $236 to $264 and kept a buy rating, implying about 26.8% upside from the previous close.
• Coinbase shares were down 3.9% to $208.22 on Tuesday, even as the stock trades within a wide 52-week range of $139.36 to $444.64.
• Wall Street remains mixed on COIN: the stock has a consensus Hold rating with an average target of $251.91, while Coinbase’s latest earnings disappointed with a loss of $1.49 per share and revenue below estimates.

Coinbase Global (NASDAQ:COIN) had its target price upped by equities research analysts at President Capital from $236.00 to $264.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage currently has a "buy" rating on the cryptocurrency exchange's stock. President Capital's price target indicates a potential upside of 26.79% from the company's previous close.

A number of other equities research analysts also recently weighed in on the stock. Barclays dropped their price target on shares of Coinbase Global from $140.00 to $107.00 and set an "underweight" rating for the company in a research note on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 target price on shares of Coinbase Global in a report on Wednesday, May 6th. Canaccord Genuity Group cut their price target on Coinbase Global from $400.00 to $300.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Citizens Jmp decreased their price objective on Coinbase Global from $400.00 to $355.00 and set a "market outperform" rating for the company in a research note on Friday, April 10th. Finally, UBS Group set a $264.00 price objective on Coinbase Global in a report on Friday, February 13th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $251.91.

Coinbase Global Trading Down 3.9%

Shares of COIN traded down $8.38 during trading hours on Tuesday, hitting $208.22. 3,066,971 shares of the stock traded hands, compared to its average volume of 11,608,305. The business has a fifty day moving average of $190.10 and a 200-day moving average of $225.06. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $54.99 billion, a PE ratio of 78.42, a price-to-earnings-growth ratio of 4.54 and a beta of 3.38. Coinbase Global has a 1-year low of $139.36 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm 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 firm posted $0.24 earnings per share. The business's revenue for the quarter was down 30.5% compared to the same quarter last year. Analysts expect that Coinbase Global will post 2.78 EPS for the current year.

Insider Activity

In related news, CFO Alesia J. Haas sold 10,020 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 397,171 shares in the company, valued at $79,434,200. This represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 29,990 shares of company stock valued at $6,013,920. 16.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Norges Bank acquired a new position in shares of Coinbase Global during the 4th quarter worth about $656,744,000. Vanguard Group Inc. increased its position in shares of Coinbase Global by 8.3% in the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange's stock valued at $8,847,905,000 after acquiring an additional 2,007,930 shares during the last quarter. Capital World Investors raised its holdings in Coinbase Global by 847.2% during the fourth quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange's stock worth $347,472,000 after acquiring an additional 1,374,318 shares in the last quarter. Ruffer LLP bought a new stake in Coinbase Global during the fourth quarter worth about $166,515,000. Finally, Artisan Partners Limited Partnership acquired a new position in Coinbase Global during the third quarter valued at approximately $224,663,000. 68.84% of the stock is owned by institutional investors.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Needham reiterated a Buy rating on Coinbase and set a $300 price target, citing growing market share and leadership in stablecoins. Article Title
• Positive Sentiment: Coinbase-backed Centrifuge expanded tokenization on Base, reinforcing Coinbase’s push into on-chain asset markets and broader blockchain infrastructure. Article Title
• Neutral Sentiment: CME’s move to offer 24/7 crypto futures trading may support the overall digital-asset ecosystem, but the direct impact on Coinbase is still uncertain. Article Title
• Negative Sentiment: H.C. Wainwright lowered its near-term and full-year earnings estimates after Coinbase’s Q1 results came in weaker than expected, signaling pressure on profitability. Article Title
• Negative Sentiment: A bearish commentary on Coinbase’s Q1 miss suggests some investors remain concerned that the company’s growth story is not yet translating into stronger near-term results. Article Title

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.