President Capital Issues Positive Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price target raised by stock analysts at President Capital from $236.00 to $264.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the cryptocurrency exchange’s stock. President Capital’s target price points to a potential upside of 26.79% from the stock’s previous close.

Several other analysts also recently issued reports on COIN. Canaccord Genuity Group reduced their price target on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Robert W. Baird decreased their price target on shares of Coinbase Global from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. HC Wainwright cut their price objective on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a report on Friday. Finally, UBS Group set a $264.00 target price on shares of Coinbase Global in a report on Friday, February 13th. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $251.91.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded down $8.38 during trading on Tuesday, hitting $208.22. 3,066,971 shares of the stock were exchanged, compared to its average volume of 11,608,305. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $190.10 and a 200-day moving average price of $225.06. The stock has a market capitalization of $54.99 billion, a price-to-earnings ratio of 78.42, a price-to-earnings-growth ratio of 4.54 and a beta of 3.38. Coinbase Global has a 1-year low of $139.36 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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). Coinbase Global had a net margin of 12.20% and a return on equity of 4.06%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, equities analysts predict that Coinbase Global will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were 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 of the company’s stock, valued at $79,434,200. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 29,990 shares of company stock valued at $6,013,920. 16.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC bought a new stake in Coinbase Global during the third quarter worth $25,000. MV Capital Management Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth $27,000. Palisade Asset Management LLC acquired a new stake in Coinbase Global in the third quarter valued at about $29,000. Osbon Capital Management LLC bought a new position in Coinbase Global in the fourth quarter valued at about $30,000. Finally, Archer Investment Corp boosted its stake in shares of Coinbase Global by 546.4% in the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Key Coinbase Global News

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

• Positive Sentiment: Needham reiterated a Buy rating on Coinbase and set a $300 price target, citing growing market share and leadership in stablecoins. Article Title
• Positive Sentiment: Coinbase-backed Centrifuge expanded tokenization on Base, reinforcing Coinbase’s push into on-chain asset markets and broader blockchain infrastructure. Article Title
• Neutral Sentiment: CME’s move to offer 24/7 crypto futures trading may support the overall digital-asset ecosystem, but the direct impact on Coinbase is still uncertain. Article Title
• Negative Sentiment: H.C. Wainwright lowered its near-term and full-year earnings estimates after Coinbase’s Q1 results came in weaker than expected, signaling pressure on profitability. Article Title
• Negative Sentiment: A bearish commentary on Coinbase’s Q1 miss suggests some investors remain concerned that the company’s growth story is not yet translating into stronger near-term results. Article Title

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.