Coinbase Global (NASDAQ:COIN) Stock Price Target Lowered at Freedom Broker

Coinbase Global (NASDAQ:COIN) had its price objective lowered by Freedom Broker from $185.00 to $175.00 in a report released on Friday morning,Benzinga reports. Freedom Broker currently has a buy rating on the cryptocurrency exchange’s stock.

Other equities research analysts have also recently issued reports about the stock. Argus reaffirmed a “hold” rating on shares of Coinbase Global in a research note on Wednesday, August 26th. William Blair reissued an “outperform” rating on shares of Coinbase Global in a research report on Tuesday, September 22nd. Oppenheimer reduced their price objective on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Citigroup restated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $244.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $209.88.

Coinbase Global Price Performance

Coinbase Global stock traded down $2.06 during midday trading on Friday, reaching $134.76. 7,557,782 shares of the company were exchanged, compared to its average volume of 8,345,966. The company has a market capitalization of $35.56 billion, a price-to-earnings ratio of -47.62 and a beta of 3.35. The firm’s 50-day simple moving average is $175.35 and its 200-day simple moving average is $176.27. Coinbase Global has a 1 year low of $131.55 and a 1 year high of $324.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.42 and a current ratio of 2.42.

Insider Activity at Coinbase Global

In related news, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,120 shares of company stock valued at $17,968,544 over the last three months. Insiders own 16.66% 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. Archer Investment Corp purchased a new position in shares of Coinbase Global in the 2nd quarter worth $26,000. NBT Bank N.A. purchased a new stake in Coinbase Global during the third quarter valued at about $28,000. Glen Eagle Advisors LLC increased its stake in Coinbase Global by 101.1% during the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Coinbase Global during the third quarter worth about $37,000. Finally, Root Financial Partners LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

More Coinbase Global News

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

• Positive Sentiment: Coinbase is expanding its services: eligible U.S. users can borrow USDC against tokenized gold, while Coinbase Prime now offers eligible institutions access to Deribit options and perpetual futures. These initiatives could broaden product use and revenue sources. Coinbase Enables Borrowing Against Gold via Morpho Coinbase Prime opens Deribit options and perps to eligible US institutions
• Positive Sentiment: Growing subscription revenue and cost discipline may make the business more resilient than trading fees alone would suggest, though the article also flags profitability and valuation risks. Is Coinbase Building a More Resilient and Profitable Business?
• Neutral Sentiment: Coinbase says more than 99% of customer crypto is held offline and described controls designed to limit hot-wallet exposure, after a major Binance hack raised concerns about exchange security. The reassurance may help maintain customer confidence, but the incident has also put sector-wide security risks in focus. Hackers beware: Coinbase says 99% of customer crypto is kept offline
• Negative Sentiment: Bitcoin’s drop below $76,000 in a broad market sell-off weighed on crypto-linked shares. Coinbase can move more sharply than the wider market because trading fees and earnings tend to track crypto prices and activity. Coinbase Sinks as Bitcoin Falls Below $76,000
• Negative Sentiment: Analysts also cite crypto volatility, weak underlying profits and a rich valuation as risks. Separately, Morgan Stanley’s negative reaction to the Binance breach added pressure despite Coinbase not being affected by that incident. Coinbase business resilience and risks Coinbase gets downgraded for a breach that happened elsewhere

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.

Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is headquartered in the United States and serves customers in the U.S.