Coinbase Global (NASDAQ:COIN) Raised to “Sell” at Wall Street Zen

Coinbase Global (NASDAQ:COIN) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts also recently issued reports on COIN. Citizens Jmp cut their target price on Coinbase Global from $325.00 to $280.00 and set a “market outperform” rating for the company in a research note on Friday, October 9th. UBS Group set a $155.00 price objective on Coinbase Global in a research report on Friday, July 31st. HC Wainwright restated a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research note on Friday. Morgan Stanley raised their target price on Coinbase Global from $250.00 to $258.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Finally, Benchmark decreased their target price on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $216.57.

Coinbase Global Price Performance

COIN stock opened at $143.54 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.43. Coinbase Global has a twelve month low of $136.89 and a twelve month high of $361.40. The company has a market cap of $37.87 billion, a price-to-earnings ratio of -50.72 and a beta of 3.35. The business has a 50 day moving average price of $179.74 and a two-hundred day moving average price of $178.82.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 0.76% and a negative net margin of 12.46%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $5.14 earnings per share. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. Analysts anticipate that Coinbase Global will post -0.50 EPS for the current fiscal year.

Insider Activity

In related news, Director Frederick Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 13,676 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $186.18, for a total value of $2,546,197.68. Following the sale, the director directly owned 1,115,810 shares in the company, valued at $207,741,505.80. This represents a 1.21% 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 sold 92,120 shares of company stock worth $17,968,544 in the last quarter. 16.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Archer Investment Corp bought a new stake in shares of Coinbase Global in the second quarter valued at about $26,000. NBT Bank N.A. purchased a new position in shares of Coinbase Global in the third quarter worth about $28,000. Glen Eagle Advisors LLC increased its stake 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 worth $31,000 after acquiring an additional 88 shares in the last quarter. Kings Path Partners LLC bought a new position in Coinbase Global in the third quarter valued at about $37,000. Finally, Root Financial Partners LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $37,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, exceeding expectations and ending a three-quarter losing streak. Lower operating expenses and gains on the company’s crypto holdings were major contributors. Coinbase net income surges 66% in third quarter
• Positive Sentiment: Coinbase is diversifying beyond spot crypto trading: subscription and services revenue represented about 49% of net revenue, while prediction markets surpassed a $200 million annualized revenue run rate. Management is also targeting stablecoins, tokenized assets and AI-agent payments. Coinbase Q3 earnings call highlights
• Positive Sentiment: The Binance breach could create an opportunity for Coinbase to attract customers seeking a regulated exchange and stronger custody safeguards. Several analysts retained bullish ratings, including HC Wainwright, BTIG and Cantor Fitzgerald. Binance hack could benefit Coinbase
• Neutral Sentiment: Goldman Sachs maintained a Buy rating but reduced its price target to $210, while Needham lowered its target to $197. These targets imply substantial upside but reflect increased near-term uncertainty.
• Neutral Sentiment: Coinbase said customer funds remained safe after an analytics-vendor incident involving contact information for a small subset of customers. The exchange also applied for authorization to continue operating under Brazil’s new crypto rules. Coinbase customer funds statement
• Negative Sentiment: Total revenue fell about 35% year over year to $1.22 billion, while transaction revenue declined sharply as crypto spot-trading volume weakened. Early fourth-quarter transaction revenue also suggested that trading conditions had not materially improved. Weak trading revenue pressures Coinbase
• Negative Sentiment: Investors questioned the quality of the profit because roughly $715 million came from crypto investment gains, leaving adjusted net income near $78 million. Barclays cut its rating to Underweight and lowered its price target to $120; Wells Fargo also reduced its target to $174.
• Negative Sentiment: The Binance hack triggered a broad crypto-equity selloff and raised concerns about stablecoin concentration and control risk, as Circle froze approximately $800 million in USDC and Coinbase reportedly holds nearly 30% of outstanding USDC. Insider sales have also added pressure, with no reported open-market purchases in the past six months. Coinbase USDC concentration

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.