BTIG Research Reaffirms “Buy” Rating for Coinbase Global (NASDAQ:COIN)

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $240.00 price target on the cryptocurrency exchange’s stock. BTIG Research’s price target would indicate a potential upside of 29.21% from the stock’s current price.

COIN has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $265.00 price objective on shares of Coinbase Global in a research note on Friday, July 31st. Needham & Company LLC lowered their price target on shares of Coinbase Global from $220.00 to $177.00 and set a “buy” rating for the company in a report on Friday, July 31st. Citigroup reissued a “market outperform” rating on shares of Coinbase Global in a research note on Friday, July 31st. Benchmark decreased their target price on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, Mizuho set a $155.00 price target on Coinbase Global in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $224.66.

Coinbase Global Stock Down 1.3%

Shares of NASDAQ COIN opened at $185.74 on Wednesday. The firm’s 50-day moving average is $174.13 and its two-hundred day moving average is $175.48. The company has a market capitalization of $49.01 billion, a PE ratio of -48.37 and a beta of 3.41. Coinbase Global has a 12-month low of $139.11 and a 12-month high of $402.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $5.14 earnings per share. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. Equities analysts anticipate that Coinbase Global will post -0.48 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 2,062 shares of Coinbase Global stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $205.24, for a total value of $8,010,517.20. Following the sale, the chief financial officer owned 345,376 shares of the company’s stock, valued at $70,884,970.24. The trade was a 10.15% 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. Insiders have sold a total of 127,188 shares of company stock worth $23,029,558 over the last ninety days. 16.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently bought and sold shares of COIN. MassMutual Private Wealth & Trust FSB increased its holdings in Coinbase Global by 451.2% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 2,519 shares of the cryptocurrency exchange’s stock worth $470,000 after purchasing an additional 2,062 shares during the last quarter. CX Institutional increased its position in shares of Coinbase Global by 167.9% in the 3rd quarter. CX Institutional now owns 4,348 shares of the cryptocurrency exchange’s stock worth $811,000 after purchasing an additional 2,725 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Coinbase Global by 26.0% in the 2nd quarter. QRG Capital Management Inc. now owns 30,358 shares of the cryptocurrency exchange’s stock valued at $4,605,000 after purchasing an additional 6,256 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Coinbase Global by 13.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 44,011 shares of the cryptocurrency exchange’s stock worth $6,586,000 after purchasing an additional 5,343 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Coinbase Global by 185.5% during the second quarter. Sequoia Financial Advisors LLC now owns 25,507 shares of the cryptocurrency exchange’s stock worth $3,729,000 after purchasing an additional 16,572 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase Pro relaunch planned: Coinbase intends to relaunch Coinbase Pro by year-end with spot, futures, perpetuals, options and equities trading. The completed Deribit integration and planned spot-margin trading could broaden products, increase trading activity and strengthen Coinbase’s competitive position. Coinbase Pro relaunch article
• Positive Sentiment: Regulated-market expansion: A Coinbase executive said CFTC approval could accelerate regulated crypto products, institutional Bitcoin access and 24/7 tokenized markets. Coinbase’s connection to global derivatives liquidity is another potential growth driver. CFTC approval article
• Positive Sentiment: Institutional payments opportunity: CEO Brian Armstrong highlighted Coinbase’s partnership with Citigroup to facilitate stablecoin payments for institutional clients, potentially expanding Coinbase’s role as digital-asset infrastructure. Citigroup partnership article
• Positive Sentiment: Favorable legal and analyst developments: A federal judge blocked Illinois from enforcing certain sports-wagering rules against Coinbase and Kalshi, while Bank of America raised its Coinbase price target to $203 and maintained a Buy rating. Kalshi court ruling article

About Coinbase Global

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.