Coinbase Global (NASDAQ:COIN) Given New $230.00 Price Target at Benchmark

Coinbase Global (NASDAQ:COIN) had its price objective trimmed by Benchmark from $270.00 to $230.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other analysts have also recently weighed in on the stock. Monness Crespi & Hardt reissued a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Robert W. Baird dropped their target price on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. President Capital lifted their price target on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, KeyCorp reissued a “sector weight” rating on shares of Coinbase Global in a research 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 company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $221.31.

Coinbase Global Trading Down 10.6%

COIN opened at $146.26 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global has a one year low of $139.11 and a one year high of $402.16. The company has a market cap of $38.53 billion, a P/E ratio of -38.09, a PEG ratio of 11.88 and a beta of 3.35. The business’s 50-day simple moving average is $163.23 and its 200-day simple moving average is $181.72.

Coinbase Global (NASDAQ:COIN) last posted 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). The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a positive return on equity of 3.04% and a negative net margin of 15.72%.Coinbase Global’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.14 EPS. As a group, equities research analysts expect that Coinbase Global will post 1.25 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 approximately $3,181,800. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,627 shares of company stock worth $5,327,841 in the last three months. Corporate insiders own 16.66% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Coinbase Global by 0.7% during 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 during the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $1,374,080,000 after purchasing an additional 189,080 shares during the period. Paradigm Operations LP increased its stake in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after purchasing an additional 134,425 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at about $656,744,000. Finally, ARK Investment Management LLC raised its holdings in shares of Coinbase Global by 6.1% in 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. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase captured a record 10.3% of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining share even as the overall market contracts. Coinbase Hits Record Market Share Despite Loss
• Positive Sentiment: Management highlighted growth in derivatives, stablecoins, prediction markets, Base and agent-driven finance as it seeks to become an “everything exchange” less dependent on spot crypto trading. Some analysts believe this diversification could improve resilience during crypto downturns. Coinbase Earnings Call Highlights
• Positive Sentiment: A federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, reducing a significant legal overhang, although related litigation risk remains. Coinbase Wins Dismissal in Token Lawsuit
• Neutral Sentiment: Several analysts maintained Buy or Outperform ratings and cited long-term upside, but lowered targets after the earnings report. Needham reduced its target to $177, while Oppenheimer cut its target to $193; Canaccord reaffirmed a $300 target.
• Negative Sentiment: Second-quarter revenue fell about 19% year over year to $1.22 billion, below estimates near $1.3 billion. Transaction revenue declined 21% to $599 million as lower spot-market volumes and subdued volatility hurt trading activity. Coinbase Reports Third Straight Quarterly Loss
• Negative Sentiment: Coinbase posted a GAAP net loss of approximately $359 million, or $1.36 per share, far worse than expectations, marking its third consecutive quarterly loss. Subscription and services growth was not sufficient to offset the trading slump. Coinbase Q2 Results Miss Estimates
• Negative Sentiment: Falling Bitcoin prices and reduced crypto ETF inflows are pressuring the entire crypto-linked equity group. Analysts also cut earnings forecasts, with some projecting a full-year loss, reinforcing concerns that Coinbase remains highly exposed to the crypto cycle.

Coinbase Global Company Profile

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.