William Blair Forecasts Lower Earnings for Coinbase Global

Key Points

• William Blair reduced its Q3 2025 earnings per share estimate for Coinbase Global from $0.91 to $0.83, while maintaining an "Outperform" rating on the stock.
• Coinbase reported a Q2 earnings of $0.12 per share, significantly missing analysts' expectations of $0.91, with revenue at $1.50 billion against a forecast of $1.68 billion.
• In recent insider trading, CEO Brian Armstrong sold 25,000 shares of Coinbase stock, decreasing his ownership stake by nearly 98% in a significant transaction.

Coinbase Global, Inc. (NASDAQ:COIN - Free Report) - Analysts at William Blair cut their Q3 2025 earnings estimates for shares of Coinbase Global in a research report issued on Wednesday, August 20th. William Blair analyst A. Jeffrey now anticipates that the cryptocurrency exchange will post earnings per share of $0.83 for the quarter, down from their prior estimate of $0.91. William Blair has a "Outperform" rating on the stock. The consensus estimate for Coinbase Global's current full-year earnings is $7.22 per share. William Blair also issued estimates for Coinbase Global's Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.86 EPS, Q3 2026 earnings at $1.58 EPS and FY2027 earnings at $9.07 EPS.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $0.14 EPS. Coinbase Global's revenue was up 3.3% compared to the same quarter last year.

A number of other research firms have also issued reports on COIN. Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Citigroup upped their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Needham & Company LLC upped their price target on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. China Renaissance assumed coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price target on the stock. Finally, The Goldman Sachs Group upped their price target on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $352.72.

Coinbase Global Price Performance

NASDAQ COIN traded up $19.57 during mid-day trading on Thursday, hitting $319.85. The stock had a trading volume of 12,988,273 shares, compared to its average volume of 12,145,037. The stock has a market capitalization of $82.18 billion, a price-to-earnings ratio of 30.93 and a beta of 3.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $444.64. The firm's 50 day moving average is $346.00 and its 200 day moving average is $262.13.

Institutional Trading of Coinbase Global

Several hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after acquiring an additional 9,952 shares during the period. Amalgamated Bank raised its holdings in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after acquiring an additional 629 shares during the last quarter. GAMMA Investing LLC lifted its position in Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after buying an additional 84 shares during the period. Kingswood Wealth Advisors LLC increased its position in Coinbase Global by 124.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock worth $453,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in Coinbase Global by 87.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock valued at $578,000 after acquiring an additional 1,561 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at $190,732.86. This trade represents a 99.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 1,185,704 shares of company stock valued at $438,918,732. Company insiders own 17.65% of the company's stock.

Coinbase Global Company Profile

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.