Coinbase Global (NASDAQ:COIN) Price Target Lowered to $140.00 at Compass Point

Coinbase Global (NASDAQ:COIN) had its price target cut by equities researchers at Compass Point from $190.00 to $140.00 in a report released on Friday,MarketScreener reports. The brokerage currently has a “sell” rating on the cryptocurrency exchange’s stock. Compass Point’s price objective suggests a potential downside of 18.32% from the stock’s current price.

Several other equities research analysts have also commented on the company. B. Riley Financial upped their target price on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. BTIG Research dropped their price target on Coinbase Global from $340.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Canaccord Genuity Group decreased their price target on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a report on Friday, February 13th. Benchmark dropped their price target on Coinbase Global from $421.00 to $267.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Finally, Oppenheimer lowered their target price on Coinbase Global from $381.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Nineteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.15.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $5.47 during midday trading on Friday, hitting $171.41. 1,036,692 shares of the company traded hands, compared to its average volume of 11,788,531. Coinbase Global has a 12 month low of $139.36 and a 12 month high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market cap of $46.22 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.36 and a beta of 3.70. The firm’s fifty day moving average price is $215.78 and its 200-day moving average price is $279.38.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.86 billion. Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The company’s revenue was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.68 EPS. As a group, sell-side analysts forecast that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 364,600 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $154.95, for a total transaction of $56,494,770.00. Following the transaction, the chief financial officer directly owned 402,165 shares in the company, valued at approximately $62,315,466.75. The trade was a 47.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $257.31, for a total value of $10,292,400.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 574,395 shares of company stock valued at $110,451,160. Insiders own 16.56% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of COIN. Integrated Wealth Concepts LLC lifted its stake in Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares during the period. Empowered Funds LLC lifted its holdings in Coinbase Global by 25.8% in the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth raised its holdings in Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after acquiring an additional 467 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Coinbase Global during the 2nd quarter valued at about $285,000. Finally, Chicago Partners Investment Group LLC raised its position in Coinbase Global by 5.7% in the second quarter. Chicago Partners Investment Group LLC now owns 1,092 shares of the cryptocurrency exchange’s stock valued at $383,000 after purchasing an additional 59 shares during the period. Hedge funds and other 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 expanded its on?chain loan program to accept XRP, DOGE, ADA and LTC as collateral and unlocked up to $100,000 in USDC borrowing — a revenue/product?utility positive that broadens lending volume and user stickiness. Coinbase Integrates XRP, DOGE, ADA, LTC for Crypto Loans
• Positive Sentiment: A KlariVis study shows community banks funneled roughly $78.3M net into Coinbase over 13 months, indicating continued retail/institutional flow into the platform and stronger deposit/asset trends. Community banks see net deposit outflows to Coinbase: Study
• Positive Sentiment: Share repurchases continue to be a tailwind: Coinbase disclosed ~8M shares bought back in the recent quarter, which reduces dilution and supports per?share metrics. Do Coinbase Stock Buybacks Make COIN a Good Buy Here?
• Positive Sentiment: Regulatory progress/optimism: CEO Brian Armstrong and allies say the CLARITY Act has a path forward, which would reduce regulatory risk if passed and is being priced by some investors as positive for U.S. market access. US CLARITY Act to pass ‘hopefully by April’: Senator Bernie Moreno
• Neutral Sentiment: Base L2 is transitioning to its own architecture — a technical move that should improve upgrade speed and independence long term but carries short?term migration risk and developer transition costs. Coinbase’s Base transitions to its own architecture
• Neutral Sentiment: Institutional angle: Coinbase Institutional execs highlight bank partnerships and tokenization momentum — positive strategically but more of a multi?quarter catalyst than an immediate revenue lever. For Coinbase’s Brett Tejpaul, The Real Story Isn’t Bitcoin’s Dip — it’s Wall Street’s Quiet Pivot To Tokenization
• Negative Sentiment: Analyst downgrades and price?target cuts are pressuring the stock: Rothschild/Redburn trimmed its target (while keeping a buy), Zacks moved to “strong sell”, and other shops (Mizuho, Goldman?mentioned coverage) lowered expectations — increasing near?term selling pressure. Rothschild & Co Redburn Has Lowered Expectations COIN Stock Warning Zacks
• Negative Sentiment: Post?earnings weakness: Coinbase missed EPS and revenue estimates in its Feb quarter and reported softer trading volumes year?over?year — fundamentals that keep some investors skeptical about near?term growth. Coinbase valuation check after earnings miss

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.