Coinbase Global (NASDAQ:COIN) Price Target Cut to $234.00 by Analysts at Bank of America

Coinbase Global (NASDAQ:COIN) had its price objective dropped by equities researchers at Bank of America from $288.00 to $234.00 in a note issued to investors on Thursday,MarketScreener reports. Bank of America‘s price target points to a potential upside of 36.47% from the stock’s current price.

A number of other brokerages have also weighed in on COIN. JPMorgan Chase & Co. reduced their target price on Coinbase Global from $399.00 to $290.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Zacks Research downgraded shares of Coinbase Global from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Piper Sandler decreased their price objective on shares of Coinbase Global from $270.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. BTIG Research dropped their target price on shares of Coinbase Global from $340.00 to $280.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Coinbase Global in a research report on Thursday, January 8th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $262.54.

Coinbase Global Stock Performance

NASDAQ COIN opened at $171.46 on Thursday. 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 firm has a market cap of $45.28 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 3.00 and a beta of 3.60. The firm has a 50 day simple moving average of $182.64 and a 200-day simple moving average of $253.38. Coinbase Global has a one year low of $139.36 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.17). The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Coinbase Global had a net margin of 17.55% and a return on equity of 8.68%. The business’s quarterly revenue was down 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.68 EPS. Equities research analysts anticipate that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 40,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $248.96, for a total transaction of $9,958,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 1,375 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $250.27, for a total value of $344,121.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 438,120 shares of company stock valued at $73,878,750. Insiders own 16.56% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Advisors Wealth Management LLC raised its holdings in shares of Coinbase Global by 2.0% during the third quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock worth $523,000 after purchasing an additional 30 shares during the period. Elevation Wealth Partners LLC raised its stake in shares of Coinbase Global by 37.6% during the third quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock valued at $39,000 after purchasing an additional 32 shares in the last quarter. West Family Investments Inc. lifted its holdings in Coinbase Global by 3.3% in the third quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock worth $347,000 after purchasing an additional 33 shares during the period. StoneX Group Inc. lifted its holdings in Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock worth $690,000 after purchasing an additional 34 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC grew its position in Coinbase Global by 3.4% in the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 1,040 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 34 shares in the last quarter. 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: Conditional OCC approval for a national trust company advances Coinbase’s regulatory standing and could broaden institutional custody and payment offerings without turning the firm into a traditional bank. This is a key credibility boost for institutional investors. Coinbase clears key regulatory hurdle in bid to bolster its stablecoin business
• Positive Sentiment: Coinbase contributed its x402 payments protocol to the Linux Foundation and helped launch the x402 Foundation with partners such as Stripe and Cloudflare — a move that could position Coinbase at the center of a new internet-native payments standard for both fiat and crypto rails. Linux Foundation and Coinbase Launch x402 Foundation for AI Agents
• Positive Sentiment: Coinbase’s chief legal officer says a compromise on the CLARITY Act (stablecoin/yield rules) appears imminent, which would reduce regulatory uncertainty that has weighed on crypto platforms. Clear federal rules would be a material positive for exchanges. Coinbase CLO says Senate CLARITY compromise is close, but no markup date set
• Neutral Sentiment: Bernstein reiterated an “Outperform” rating but cut its price target substantially (from $440 to $330), signaling conviction in the secular thesis but acknowledging near?term valuation risk tied to crypto market multiples. Bernstein Cuts PT on Coinbase Global (COIN), Reiterates “Outperform” Rating
• Negative Sentiment: Analyst downward pressure: Robert W. Baird trimmed its price target to $200 (now Neutral) and Barclays reset a lower target, actions that have pressured the stock and reflect caution around near?term revenue sensitivity to crypto prices. Robert W. Baird Lowers Coinbase Global (NASDAQ:COIN) Price Target to $200.00
• Negative Sentiment: Bitcoin selling pressure is dragging exchange volumes and sentiment; Coinbase shares have moved with BTC volatility, so downside in crypto prices is an immediate headwind to revenue. Coinbase Stock Slides As Bitcoin Faces Selling Pressure
• Negative Sentiment: Competition risk: Circle’s announcement of cirBTC (a wrapped?BTC product aimed at institutions) could intensify competition in tokenized BTC custody/wrapping services — a market where Coinbase currently competes. Circle to launch cirBTC wrapped Bitcoin, challenging BitGo and Coinbase

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.