Coinbase Global’s (COIN) “Hold” Rating Reiterated at Argus

Argus reaffirmed their hold rating on shares of Coinbase Global (NASDAQ:COIN) in a research note published on Wednesday morning,Benzinga reports.

A number of other equities analysts have also weighed in on the company. Wolfe Research set a $325.00 target price on Coinbase Global in a research note on Thursday, July 9th. Piper Sandler cut their price target on Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Barclays reduced their price target on Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Needham & Company LLC lowered their price objective on Coinbase Global from $220.00 to $177.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Coinbase Global in a report on Friday, July 31st. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $215.90.

Coinbase Global Trading Down 6.3%

Shares of NASDAQ COIN opened at $178.64 on Wednesday. The company’s 50 day simple moving average is $160.42 and its 200 day simple moving average is $174.63. The firm has a market capitalization of $47.13 billion, a P/E ratio of -46.52 and a beta of 3.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. Coinbase Global has a fifty-two week low of $139.11 and a fifty-two week high of $402.16.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The firm’s revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.14 earnings per share. On average, analysts predict that Coinbase Global will post -0.06 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 35,068 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $144.32, for a total value of $5,061,013.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of Coinbase Global stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $188.75, for a total value of $389,202.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 59,181 shares of company stock valued at $9,180,882. 16.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in Coinbase Global by 14,352.9% in the second quarter. California State Teachers Retirement System now owns 46,883,279 shares of the cryptocurrency exchange’s stock valued at $6,853,867,000 after buying an additional 46,558,893 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Coinbase Global by 3.2% during 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 in the last quarter. Paradigm Operations LP increased its holdings 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 in the last quarter. Norges Bank bought a new position in shares of Coinbase Global in the 4th quarter valued at $656,744,000. Finally, ARK Investment Management LLC lifted its stake in shares of Coinbase Global by 6.1% in the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after acquiring an additional 146,388 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global News Summary

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

• Positive Sentiment: Bitcoin’s recovery could support Coinbase’s near-term activity. Bitcoin moved above $80,000, ETF inflows continued for nine consecutive days, and Bitcoin traded at a premium on Coinbase—signals of improving U.S. demand and potentially stronger trading volumes. Metaplanet also transferred approximately $108 million of Bitcoin to Coinbase Prime, highlighting institutional custody activity. Bitcoin Surges Past $80K
• Positive Sentiment: Analyst support and regulatory optimism are providing a counterweight. Goldman Sachs maintained its Buy rating and raised its Coinbase target, while growing support for the CLARITY Act could provide clearer rules for Coinbase’s exchange, custody, stablecoin and institutional businesses. Goldman Sachs Reiterates Buy Ratings
• Positive Sentiment: Coinbase’s diversification story is strengthening. Paid memberships reached a record, and the company is expanding into Bitcoin-backed mortgages with Better, tokenized stocks on Base and other blockchain-based financial services. These initiatives could reduce dependence on retail trading and create additional subscription, custody and infrastructure revenue. Paid Membership Set a Record
• Neutral Sentiment: CEO Brian Armstrong remains bullish on crypto’s long-term outlook. He said Bitcoin could reach as much as $400,000 by 2030 and described blockchain as an evolving part of the financial system. The comments support the long-term industry narrative but do not directly improve current earnings. Coinbase CEO on Bitcoin’s Long-Term Outlook
• Negative Sentiment: Crypto-market weakness hurt Coinbase’s core business in the second quarter. Total crypto market capitalization fell 11%, spot trading volumes declined 25% sequentially and Bitcoin prices dropped double digits. Coinbase reported revenue below expectations and a larger-than-expected per-share loss, with revenue down 18.5% year over year. Coinbase Q2 Revenue Fell
• Negative Sentiment: Additional uncertainty comes from insider selling and Armstrong’s potential California departure over a proposed wealth tax. The disclosed sale was made under a pre-arranged trading plan, but it may still weigh on sentiment, while the relocation issue introduces operational and political uncertainty.

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.