Coinbase Global (NASDAQ:COIN) Rating Lowered to “Strong Sell” at Zacks Research

Coinbase Global (NASDAQ:COIN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

COIN has been the subject of several other reports. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research note on Tuesday, July 28th. Citigroup reissued a “market outperform” rating on shares of Coinbase Global in a report on Friday, July 31st. UBS Group set a $155.00 target price on shares of Coinbase Global in a research report on Friday, July 31st. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $215.11.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $145.41 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a 50-day simple moving average of $160.66 and a two-hundred day simple moving average of $178.50. The firm has a market capitalization of $38.31 billion, a PE ratio of -37.87, a P/E/G ratio of 42.15 and a beta of 3.36. Coinbase Global has a 52-week low of $139.11 and a 52-week high of $402.16.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $5.14 earnings per share. Coinbase Global’s revenue was down 18.5% on a year-over-year basis. Analysts forecast that Coinbase Global will post -0.05 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 35,068 shares of Coinbase Global stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares in the company, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,695 shares of company stock worth $10,388,854 over the last three months. 16.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 valued at $5,970,285,000 after buying an additional 184,043 shares during the period. Geode Capital Management LLC boosted its stake in 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 during the period. Paradigm Operations LP boosted its stake in shares of Coinbase Global by 3.3% during the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after purchasing an additional 134,425 shares during the period. Norges Bank purchased a new stake in Coinbase Global in the 4th quarter worth about $656,744,000. Finally, ARK Investment Management LLC raised its position in 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 worth $574,832,000 after purchasing an additional 146,388 shares during the period. 68.84% of the stock is owned by institutional investors.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase launched access to nearly 4,000 U.S. stocks for eligible U.K. customers, including fractional shares, zero-commission trading and funding through pounds or USDC. The move expands Coinbase beyond cryptocurrency trading and could create new revenue opportunities over time. Coinbase Brings Nearly 4,000 US Stocks to UK Users
• Positive Sentiment: Ark Invest, led by Cathie Wood, reportedly bought nearly $10 million of Coinbase and Circle shares after the recent crypto selloff. The purchases may signal confidence in COIN’s long-term valuation, although they do not change the company’s near-term fundamentals. Cathie Wood Buys the Dip in Coinbase and Circle
• Neutral Sentiment: Coinbase CEO Brian Armstrong continues lobbying for the CLARITY Act, which the company says would establish clearer crypto regulations. However, prediction-market odds and new Republican opposition suggest a vote or enactment this year is becoming less likely, delaying a potentially important regulatory catalyst. As Chance of Crypto Bill Vote Fades, Coinbase Stock Could Feel More Pain
• Negative Sentiment: Coinbase’s second-quarter results showed a $1.36 per-share loss versus the expected $0.44 loss, while revenue of $1.22 billion missed estimates and fell 18.5% year over year. The sharp reversal from a year-earlier profit reinforces concerns about crypto trading activity and earnings volatility. Coinbase Q2 Loss and Cathie Wood Buying
• Negative Sentiment: Zacks added COIN to its Rank #5 “Strong Sell” list, adding to bearish technical and fundamental sentiment. Separately, Cantor Fitzgerald lowered its Coinbase price target to $184, while a director sold 35,068 shares worth approximately $5.1 million under a pre-arranged Rule 10b5-1 plan. New Strong Sell Stocks for August 6th

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.