Coinbase Global, Inc. (NASDAQ:COIN) Given Average Recommendation of “Hold” by Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has earned a consensus rating of “Hold” from the thirty-three analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $245.3935.

A number of equities research analysts have weighed in on COIN shares. Rothschild & Co Redburn lifted their target price on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. President Capital increased their price target on Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Jefferies Financial Group raised their price objective on shares of Coinbase Global from $151.00 to $181.00 and gave the stock a “hold” rating in a research report on Thursday, April 9th. Wolfe Research set a $325.00 price objective on shares of Coinbase Global in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein dropped their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $157.12 on Monday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $170.41 and a two-hundred day moving average price of $186.74. Coinbase Global has a 1-year low of $139.18 and a 1-year high of $444.64. The company has a market cap of $41.39 billion, a P/E ratio of 59.07, a PEG ratio of 10.14 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $0.24 earnings per share. The business’s revenue was down 30.5% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global will post 1.41 EPS for the current year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

Insider Activity at Coinbase Global

In other news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 30,627 shares of company stock valued at $5,327,841. Company insiders own 16.66% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Palisade Asset Management LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $29,000. MV Capital Management Inc. acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Osbon Capital Management LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $30,000. JPL Wealth Management LLC bought a new position in shares of Coinbase Global in the 3rd quarter worth $49,000. Finally, Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global in the 4th quarter worth $34,000. 68.84% of the stock is owned by institutional investors.

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.