Oppenheimer Lowers Coinbase Global (NASDAQ:COIN) Price Target to $193.00

Coinbase Global (NASDAQ:COIN) had its price objective dropped by research analysts at Oppenheimer from $209.00 to $193.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the cryptocurrency exchange’s stock. Oppenheimer’s target price indicates a potential upside of 34.78% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Weiss Ratings raised shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. The Goldman Sachs Group set a $173.00 target price on shares of Coinbase Global in a research report on Friday. Piper Sandler reduced their price target on shares of Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a report on Friday. Mizuho set a $155.00 price target on shares of Coinbase Global in a research report on Friday. Finally, Compass Point reiterated a “sell” rating on shares of Coinbase Global in a research note on Monday, June 1st. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $221.31.

Coinbase Global Trading Down 12.5%

COIN traded down $20.38 during trading on Friday, hitting $143.20. 10,671,690 shares of the stock were exchanged, compared to its average volume of 10,379,887. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a 50 day simple moving average of $164.00 and a 200 day simple moving average of $181.97. The firm has a market cap of $37.73 billion, a price-to-earnings ratio of 53.52, a P/E/G ratio of 10.30 and a beta of 3.35. Coinbase Global has a 1 year low of $139.11 and a 1 year high of $402.16.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Coinbase Global’s quarterly revenue was down 30.5% compared to the same quarter last year. As a group, equities analysts expect that Coinbase Global will post 1.42 EPS for the current year.

Insider Activity

In related news, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares of the company’s stock, valued at $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 30,627 shares of company stock worth $5,327,841. Insiders own 16.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COIN. Vanguard Group Inc. boosted its stake in Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after purchasing an additional 184,043 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock worth $1,374,080,000 after buying an additional 189,080 shares during the last quarter. Paradigm Operations LP lifted its stake in shares of Coinbase Global by 3.3% during the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after buying an additional 134,425 shares during the period. Norges Bank acquired a new stake in shares of Coinbase Global during the fourth quarter worth $656,744,000. Finally, ARK Investment Management LLC grew its holdings in shares of Coinbase Global by 6.1% during the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after buying an additional 146,388 shares during 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 reported record global crypto trading-market share of 10.3%, up from 9.1% in the first quarter, suggesting the exchange is gaining competitive ground even as overall market activity weakens. Coinbase Hits Record 10.3% Market Share Despite $359M Loss
• Positive Sentiment: Management emphasized diversification beyond spot crypto trading, including stablecoins, derivatives, prediction markets, Base, tokenized assets and agent-driven finance. Subscription and services revenue growth and expanding Base activity could make results less dependent on the crypto cycle over time. COIN Q2 Earnings Call Highlights Agentic Finance Push
• Positive Sentiment: A Manhattan federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, reducing a significant legal risk, although not necessarily resolving all claims. Coinbase beats much of customer lawsuit over US token sales
• Neutral Sentiment: Analysts broadly maintained Buy ratings and continued to see substantial long-term upside tied to crypto-market recovery, regulatory clarity and Coinbase’s diversification. However, several firms lowered their price targets after the earnings miss, highlighting near-term uncertainty. Coinbase Buy Rating Reaffirmed as Analyst Cuts Price Target
• Negative Sentiment: Second-quarter revenue fell about 19% year over year to $1.22 billion, below estimates near $1.29-$1.30 billion. Coinbase posted a GAAP loss of $1.36 per diluted share, or approximately $359 million, materially worse than Wall Street expectations and its third consecutive quarterly loss. Crypto exchange Coinbase reports third straight quarterly loss on trading slowdown
• Negative Sentiment: Transaction revenue dropped 21% to $599 million as industrywide spot volumes weakened. The results reinforce concerns that Coinbase’s diversification has not yet offset its dependence on trading activity, while multiple brokerages cut forecasts and price targets.

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.