Citigroup Cuts Coinbase Global (NASDAQ:COIN) Price Target to $235.00

Coinbase Global (NASDAQ:COIN) had its price objective lowered by Citigroup from $400.00 to $235.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other analysts have also commented on the stock. Rothschild & Co Redburn boosted their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $226.00 to $228.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Robert W. Baird decreased their target price on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a report on Wednesday, June 17th. Eighteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $239.14.

Coinbase Global Trading Down 1.8%

NASDAQ COIN opened at $158.29 on Thursday. The company has a market cap of $41.70 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 10.19 and a beta of 3.35. Coinbase Global has a 52 week low of $139.18 and a 52 week high of $402.16. The business has a 50 day moving average price of $166.18 and a 200-day moving average price of $184.75. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $0.24 earnings per share. Coinbase Global’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, equities analysts expect that Coinbase Global will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, 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 transaction of $346,684.80. Following the transaction, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $3,181,800. This represents a 33.33% decrease in their ownership of the stock. 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 quarter, insiders sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. MV Capital Management Inc. bought a new stake in Coinbase Global in the 4th quarter worth about $27,000. Palisade Asset Management LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $29,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $30,000. Glen Eagle Advisors LLC boosted 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 buying an additional 88 shares during the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 153 shares in the last quarter. 68.84% of the stock is currently 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 unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
• Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
• Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
• Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global (NASDAQ:COIN)
• Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
• Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
• Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
• Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage

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.