Coinbase Global (NASDAQ:COIN) Stock Rating Reaffirmed as “Buy” by BTIG Research

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $240.00 price objective on the cryptocurrency exchange’s stock. BTIG Research’s price target would suggest a potential upside of 29.21% from the company’s previous close.

A number of other research firms have also recently commented on COIN. Citizens Jmp decreased their target price on shares of Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley started coverage on shares of Coinbase Global in a research report on Thursday, September 10th. They set an “equal weight” rating and a $250.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Coinbase Global in a report on Monday, September 28th. They issued an “outperform” rating and a $237.00 target price for the company. Raymond James Financial assumed coverage on Coinbase Global in a report on Wednesday, July 22nd. They set a “market perform” rating on the stock. Finally, Argus reaffirmed a “hold” rating on shares of Coinbase Global in a research note on Wednesday, August 26th. Twenty analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $224.66.

Coinbase Global Stock Down 1.3%

COIN opened at $185.74 on Wednesday. The firm’s 50 day simple moving average is $174.13 and its two-hundred day simple 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 1-year low of $139.11 and a 1-year high of $402.16. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm posted $5.14 earnings per share. Coinbase Global’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global will post -0.48 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, Director Marc L. Andreessen sold 6,838 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $198.00, for a total transaction of $1,353,924.00. Following the completion of the transaction, the director directly owned 1,108,972 shares in the company, valued at approximately $219,576,456. This represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the completion of the transaction, the chief financial officer directly owned 345,376 shares of the company’s stock, valued at approximately $70,884,970.24. This trade represents a 10.15% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 127,188 shares of company stock worth $23,029,558. 16.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Coinbase Global

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