B. Riley Financial Has Lowered Expectations for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its target price reduced by equities researchers at B. Riley Financial from $243.00 to $203.00 in a report released on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the cryptocurrency exchange’s stock. B. Riley Financial’s price target would indicate a potential upside of 13.61% from the stock’s current price.

COIN has been the subject of a number of other research reports. Wedbush set a $224.00 price objective on shares of Coinbase Global in a report on Friday, May 8th. Weiss Ratings upgraded Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Citigroup cut their price target on Coinbase Global from $505.00 to $400.00 and set a “buy” rating for the company in a report on Friday, February 6th. The Goldman Sachs Group lifted their price objective on Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler lowered their price objective on Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $250.81.

Coinbase Global Price Performance

NASDAQ COIN traded down $10.34 during mid-day trading on Monday, hitting $178.69. The stock had a trading volume of 2,759,950 shares, compared to its average volume of 11,333,151. The firm’s 50 day moving average is $188.59 and its 200 day moving average is $211.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $47.08 billion, a price-to-earnings ratio of 66.93, a PEG ratio of 6.67 and a beta of 3.32. Coinbase Global has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Equities research analysts forecast that Coinbase Global will post 1.74 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the transaction, the chief financial officer directly owned 397,171 shares in the company, valued at approximately $79,434,200. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the sale, the insider directly owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 38,566 shares of company stock worth $7,611,095. Insiders own 16.66% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. REAP Financial Group LLC purchased a new stake in Coinbase Global in the third quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new position in shares of Coinbase Global during the fourth quarter worth $27,000. Palisade Asset Management LLC purchased a new position in shares of Coinbase Global during the third quarter worth $29,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at $30,000. Finally, Glen Eagle Advisors LLC raised its holdings in shares of Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after buying an additional 88 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase expanded its India presence by enabling direct INR deposits and withdrawals through IMPS, giving retail users faster bank-to-crypto transfers and access to spot, futures, and advanced trading tools. Coinbase launches rupee bank rails in India after FIU nod
• Positive Sentiment: The company’s re-entry into India after FIU registration could broaden Coinbase’s addressable market in one of the world’s fastest-growing crypto regions. Coinbase Gives Indian Traders Direct INR Access to Crypto Markets
• Neutral Sentiment: Additional reports repeated the India expansion news, reinforcing the same strategic theme rather than adding new catalyst value. Coinbase launches direct INR bank transfers for crypto users in India
• Negative Sentiment: COIN is falling along with other crypto-related stocks after the Bitcoin-linked selloff hit risk appetite across the sector. Strategy Slides 6%, Coinbase Drops 5% as Saylor’s First Bitcoin Sale in Nearly 4 Years Triggers Crypto Selloff

About Coinbase Global

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.