Coinbase Global (NASDAQ:COIN) Earns Market Perform Rating from Analysts at Raymond James Financial

Investment analysts at Raymond James Financial started coverage on shares of Coinbase Global (NASDAQ:COIN) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “market perform” rating on the cryptocurrency exchange’s stock.

Several other equities research analysts have also recently commented on COIN. Piper Sandler dropped their price target on shares of Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a report on Wednesday, June 17th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. Monness Crespi & Hardt reaffirmed a “sell” rating on shares of Coinbase Global in a research report on Friday, June 5th. Finally, Jefferies Financial Group upped their target price on Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $245.39.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded down $2.18 during trading on Wednesday, reaching $173.67. The company had a trading volume of 693,130 shares, compared to its average volume of 10,516,410. The firm’s fifty day moving average is $168.65 and its 200 day moving average is $185.89. 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 firm has a market capitalization of $45.75 billion, a PE ratio of 65.35, a price-to-earnings-growth ratio of 10.35 and a beta of 3.35. Coinbase Global has a twelve month low of $139.18 and a twelve month high of $405.31.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% 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 previous year, the firm earned $0.24 EPS. Coinbase Global’s revenue for the quarter was down 30.5% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global will post 1.41 EPS for the current year.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider directly owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider directly owned 84,753 shares in the company, valued at $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,627 shares of company stock worth $5,327,841 in the last 90 days. 16.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised 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 in the last quarter. Geode Capital Management LLC raised its position in Coinbase Global by 3.2% during 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 acquiring an additional 189,080 shares in the last quarter. Paradigm Operations LP raised its position in Coinbase Global by 3.3% during the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after acquiring an additional 134,425 shares in the last quarter. Norges Bank acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $656,744,000. Finally, ARK Investment Management LLC lifted its stake in Coinbase Global by 6.1% in 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 acquiring an additional 146,388 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Key Coinbase Global News

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

• Positive Sentiment: Momentum around the CLARITY Act remains the biggest driver, as lawmakers moved closer to a Senate vote on a bill that could shift most crypto trading outside SEC oversight and create a more favorable regulatory backdrop for Coinbase. US SEC settles FOIA lawsuit with Coinbase over lost messages, WSJ op-ed says
• Positive Sentiment: Coinbase also announced expansion of its “Everything Exchange” strategy, including plans to bring tokenized equities and other products to Canada pending regulatory approval, reinforcing growth expectations beyond core trading revenue. Coinbase (COIN) Expands Everything Exchange to Canadian Market With Tokenized Equities
• Positive Sentiment: Coinbase said it is opening a new office in Singapore and will expand hiring there, signaling international growth ambitions and a broader push into global markets. Crypto exchange Coinbase opens new office in Singapore, will expand hiring
• Neutral Sentiment: Coinbase’s legal win over the SEC’s lost messages is more of a symbolic governance and transparency issue than a direct earnings catalyst, but it may strengthen the company’s standing in its broader regulatory fight. US SEC settles FOIA lawsuit with Coinbase over lost messages, WSJ op-ed says
• Neutral Sentiment: Recent commentary from analysts and media outlets has highlighted renewed optimism in crypto markets and stronger Bitcoin prices, which tends to lift Coinbase shares as a proxy for digital-asset sentiment. Crypto market breakout could accelerate as AI trade cools, analyst says

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.