Coinbase Global (NASDAQ:COIN) Given New $193.00 Price Target at Oppenheimer

Coinbase Global (NASDAQ:COIN) had its price target trimmed by Oppenheimer from $209.00 to $193.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the cryptocurrency exchange’s stock.

Several other research analysts have also recently issued reports on COIN. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Coinbase Global in a report on Wednesday, June 17th. 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. Jefferies Financial Group upped their price target 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. Barclays dropped their price objective on shares of Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Raymond James Financial began coverage on shares of Coinbase Global in a report on Wednesday, July 22nd. They set a “market perform” rating on the stock. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $221.31.

Coinbase Global Stock Down 10.6%

NASDAQ:COIN opened at $146.26 on Friday. Coinbase Global has a twelve month low of $139.11 and a twelve month high of $402.16. The company has a market cap of $38.53 billion, a price-to-earnings ratio of -38.09, a price-to-earnings-growth ratio of 11.88 and a beta of 3.35. The stock has a fifty day simple moving average of $163.23 and a 200-day simple moving average of $181.72. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last issued 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.04%. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.14 earnings per share. Analysts anticipate that Coinbase Global will post 1.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at approximately $5,446,200. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their position. 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 30,627 shares of company stock valued at $5,327,841 in the last 90 days. Corporate insiders own 16.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COIN. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter valued at $656,744,000. Capital World Investors grew its position in Coinbase Global by 847.2% during the fourth quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after buying an additional 1,374,318 shares during the period. Ruffer LLP acquired a new stake in Coinbase Global during the fourth quarter valued at $166,515,000. Southpoint Capital Advisors LP purchased a new position in Coinbase Global in the first quarter valued at $104,766,000. Finally, Janus Henderson Group PLC increased its holdings in Coinbase Global by 2,597.8% in the fourth quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange’s stock valued at $124,221,000 after buying an additional 528,943 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting 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.

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.