Coinbase Global (NASDAQ:COIN) Earns “Buy” Rating from BTIG Research

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They presently have a $240.00 price target on the cryptocurrency exchange’s stock. BTIG Research‘s target price would suggest a potential upside of 49.45% from the company’s previous close.

COIN has been the subject of several other reports. Barclays boosted their price objective on shares of Coinbase Global from $95.00 to $149.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $244.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 7th. Wells Fargo & Company assumed coverage on shares of Coinbase Global in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $200.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Coinbase Global in a report on Friday, July 31st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $219.60.

Coinbase Global Stock Performance

NASDAQ COIN opened at $160.59 on Friday. 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 1-year low of $139.11 and a 1-year high of $361.40. The firm has a market capitalization of $42.37 billion, a P/E ratio of -41.82 and a beta of 3.41. The business’s 50-day simple moving average is $180.32 and its 200-day simple moving average is $179.32.

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). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $5.14 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. Equities analysts predict that Coinbase Global will post -0.47 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jennifer Jones sold 2,062 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 6,838 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $198.00, for a total value of $1,353,924.00. Following the transaction, the director owned 1,108,972 shares of the company’s stock, valued at approximately $219,576,456. The trade was a 0.61% 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. In the last 90 days, insiders sold 127,188 shares of company stock worth $23,029,558. Company insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the company. NBT Bank N.A. acquired a new position in Coinbase Global during the 3rd quarter valued at about $28,000. Glen Eagle Advisors LLC increased its stake in shares of Coinbase Global by 101.1% in the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Archer Investment Corp increased its stake in shares of Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 153 shares during the period. Root Financial Partners LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $37,000. Finally, Kings Path Partners LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $37,000. Institutional investors own 68.84% of the company’s stock.

More Coinbase Global News

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

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, reversing a mult quarter losing streak and exceeding analysts’ expectations. Operating expenses fell 13% sequentially, helping profitability. Coinbase Q3 earnings
• Positive Sentiment: Prediction markets surpassed $200 million in annualized revenue, Coinbase One subscribers reached a record, and subscription and services revenue increased 3% sequentially to $570.2 million. These trends support management’s strategy of diversifying beyond spot-crypto trading. Prediction markets growth
• Positive Sentiment: Coinbase added Ripple’s RLUSD stablecoin across its retail, exchange and institutional platforms, potentially increasing stablecoin-related activity and revenue. It also applied for authorization under Brazil’s new crypto rules and expects no service disruption while its application is reviewed. RLUSD availability
• Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating and assigned a $200 price target, implying considerable upside from the reference price. Rosenblatt rating
• Neutral Sentiment: Coinbase CEO Brian Armstrong said quantum computing represents a more serious long-term cryptocurrency security threat than artificial intelligence. He characterized the issue as a matter of “when, not if,” though it is not an immediate earnings driver. Armstrong on quantum computing
• Negative Sentiment: Revenue was about $1.216 billion, down roughly 35% from a year earlier. Transaction revenue was approximately $590 million, while fourth-quarter subscription and services guidance of $550 million to $630 million suggests limited near-term acceleration. Coinbase profit composition
• Negative Sentiment: Approximately $715 million of the quarterly profit came from gains on Coinbase’s cryptocurrency holdings, making the headline earnings figure less representative of recurring operating performance. Coinbase crypto gains
• Negative Sentiment: A security incident at analytics vendor Amplitude exposed contact information for a small subset of customers. Coinbase said its systems and customer funds were not compromised, but the incident could increase reputational and fraud concerns. Customer contact-data incident
• Negative Sentiment: Reported insider activity has been overwhelmingly selling, including planned sales by senior executives and founders, which may weigh on sentiment despite not changing the company’s fundamentals directly.

About Coinbase Global

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.