Coinbase Global (NASDAQ:COIN) Releases Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Coinbase Global, Inc. (NASDAQ:COIN) issued its quarterly earnings data on Thursday. The cryptocurrency exchange reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17), FiscalAI reports. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.86 billion. Coinbase Global had a return on equity of 9.01% and a net margin of 17.55%.The company’s revenue was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.68 EPS.

Here are the key takeaways from Coinbase Global’s conference call:

• Everything Exchange launched in Q4 and is showing early traction — global trading volume and market share doubled year‑over‑year with record derivatives activity, equities/prediction markets rolled out, and Base hitting on‑chain transaction highs driven in part by AI agents.
• Stablecoins and payments are a top priority: USDC balances on Coinbase reached all‑time highs (USDC market cap ~ $75B), and the company plans deeper integrations and payments infrastructure, positioning stablecoins as a long‑term growth driver.
• Coinbase highlights financial strength and diversification — 2025 revenue of $7.2B (+9% YoY), subscription & services of $2.8B (+23% YoY), 12 products each >$100M annualized, 12 consecutive quarters of adjusted EBITDA profitability, $11.3B cash (≈$14.1B total resources), and $1.7B of buybacks with a new $2B authorization while continuing Bitcoin purchases.
• On a GAAP basis Q4 showed a $667M net loss driven by a $718M unrealized loss on its crypto investment portfolio and a $395M loss on strategic investments (including Circle), while operating expenses rose (M&A and USDC rewards), and Q1 guidance reflects lower crypto prices and staking rates.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $164.32 on Friday. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 37.43 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64. The company’s fifty day moving average is $224.49 and its 200 day moving average is $284.81. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Coinbase Global from $399.00 to $290.00 and set an “overweight” rating for the company in a report on Tuesday. Wall Street Zen downgraded Coinbase Global from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Rothschild & Co Redburn lowered their target price on Coinbase Global from $404.00 to $403.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Needham & Company LLC cut their target price on shares of Coinbase Global from $290.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald decreased their target price on shares of Coinbase Global from $277.00 to $221.00 and set an “overweight” rating on the stock in a research note on Monday, February 9th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $291.85.

Insider Buying and Selling

In related news, insider Paul Grewal sold 11,955 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $246.18, for a total value of $2,943,081.90. Following the transaction, the insider directly owned 75,811 shares of the company’s stock, valued at $18,663,151.98. The trade was a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 364,600 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $154.95, for a total value of $56,494,770.00. Following the completion of the sale, the chief financial officer owned 402,165 shares in the company, valued at $62,315,466.75. The trade was a 47.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 672,498 shares of company stock valued at $137,109,701 over the last 90 days. 16.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. ARK Investment Management LLC raised its stake in 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 worth $574,832,000 after buying an additional 146,388 shares during the last quarter. Northern Trust Corp grew its holdings in Coinbase Global by 5.9% during the 3rd quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange’s stock worth $661,437,000 after acquiring an additional 108,751 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Coinbase Global by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,662,786 shares of the cryptocurrency exchange’s stock worth $376,022,000 after acquiring an additional 56,711 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Coinbase Global by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,100,873 shares of the cryptocurrency exchange’s stock valued at $248,951,000 after purchasing an additional 34,857 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Coinbase Global by 7.4% during the 4th quarter. California Public Employees Retirement System now owns 386,231 shares of the cryptocurrency exchange’s stock valued at $87,342,000 after purchasing an additional 26,465 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global News Summary

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

• Positive Sentiment: Short‑term buying momentum: traders are buying the post‑earnings drop and the stock has bounced off prior support levels, leading to a sharp intraday rebound even after the Q4 miss. Read More.
• Positive Sentiment: Operational and product positives: Coinbase highlights doubling crypto trading market share in 2025, subscription strength and new initiatives (Agentic/AI wallets) that diversify revenue and address longer‑term growth. Read More.
• Neutral Sentiment: Analyst reaction is mixed: many firms cut price targets and trimmed estimates (wide dispersion of PTs), leaving both upside and downside scenarios for investors to weigh. Read More.
• Neutral Sentiment: Short‑interest data in some feeds shows 0 shares (days‑to‑cover 0.0) — the reporting appears unreliable and provides no clear short‑squeeze signal.
• Negative Sentiment: Q4 miss and first quarterly loss in two years: Coinbase reported a $667M net loss, revenue down ~21% Y/Y and EPS below estimates — the core trading business remains sensitive to crypto price moves. Read More.
• Negative Sentiment: Insider selling raises governance/sentiment concerns: reporting shows large stock sales by CEO Brian Armstrong (reported ~$550M) and a CFO sale (~$56M), which can weigh on investor confidence. Read More. Read More.
• Negative Sentiment: Operational hiccup: a brief platform outage affected buy/sell/transfer functionality around the earnings release, spotlighting execution risk. Read More.

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.