Coinbase Global (NASDAQ:COIN) Issues Earnings Results, Misses Expectations By $1.55 EPS

Coinbase Global, Inc. (NASDAQ:COIN) announced its quarterly earnings data on Thursday. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55), FiscalAI reports. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.10% and a net margin of 12.20%.Coinbase Global’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share.

Here are the key takeaways from Coinbase Global’s conference call:

• Coinbase reached a new all?time high in crypto trading market share and recorded its 12th consecutive quarter of net native unit inflows, reinforcing its position as the largest custodian of crypto assets.
• Q1 results showed $1.4 billion revenue, a quarterly net loss of $394 million but $303 million adjusted EBITDA; revenue was down 21% q/q from market headwinds, the company ended with over $10 billion cash (?$12B total resources) and guided 2026 adjusted expenses to $4.3–$4.6B while flagging $50–$60M of Q2 restructuring charges.
• Product momentum is accelerating — the Everything Exchange shows traction with retail derivatives >$200M annualized revenue and prediction markets at $100M annualized in March, while DEX volumes doubled q/q and Borrow/Lend balances topped $1B.
• Coinbase is advancing as a stablecoin and agentic commerce hub — average USDC held in Coinbase products hit an all?time high of $19 billion, Coinbase holds ~25% of all USDC on platforms (capturing ~50% of USDC economics), and Base plus the x402 protocol account for the majority of on?chain agentic transactions.
• Management expects regulatory clarity from the CLARITY Act (markup this month, likely signed by summer), which they view as a significant industry unlock that preserves activity?based stablecoin rewards and should broaden institutional and commercial adoption.

Coinbase Global Trading Up 4.2%

COIN traded up $8.20 during midday trading on Friday, reaching $201.16. 12,840,717 shares of the company were exchanged, compared to its average volume of 9,817,722. Coinbase Global, Inc. has a one year low of $139.36 and a one year 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 capitalization of $53.12 billion, a P/E ratio of 75.62, a PEG ratio of 4.35 and a beta of 3.38. The stock’s 50-day simple moving average is $189.05 and its 200 day simple moving average is $226.92.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research reports. Citizens Jmp lowered their price objective on Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. China Renaissance lowered their price objective on Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a research report on Monday, February 23rd. UBS Group set a $264.00 price objective on Coinbase Global in a research report on Friday, February 13th. Wedbush set a $224.00 price objective on Coinbase Global in a research report on Friday. Finally, Barclays lowered their price objective on Coinbase Global from $140.00 to $107.00 and set an “underweight” rating for the company in a research report on Friday. Nineteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $250.04.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer owned 397,171 shares in the company, valued at $79,434,200. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 29,990 shares of company stock worth $6,013,920. Insiders own 16.66% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently modified their holdings of COIN. Integrated Wealth Concepts LLC lifted its holdings in shares of 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 purchasing an additional 413 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Coinbase Global by 25.8% during 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 lifted its holdings in shares of Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after purchasing an additional 467 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Coinbase Global during the 2nd quarter valued at about $285,000. Finally, Cerity Partners LLC lifted its holdings in shares of Coinbase Global by 8.6% during the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase is expanding beyond spot crypto with new products, including gold and silver perpetual futures, prediction markets, and AI-agent payment infrastructure, which supports its “everything exchange” strategy.
• Positive Sentiment: The company and AWS/Stripe announced AI-agent payment capabilities using USDC, reinforcing Coinbase’s role in stablecoin and blockchain infrastructure growth.
• Positive Sentiment: Some analysts remain constructive, saying Coinbase could benefit from the CLARITY Act and revenue diversification even after trimming price targets. Article Title
• Neutral Sentiment: Coinbase reported record market share and strong derivatives traction, suggesting its platform is still gaining relevance even as overall trading volumes slow.
• Neutral Sentiment: Coinbase resumed trading after a roughly seven-hour AWS-related outage, but the incident highlighted operational risk rather than a permanent business issue.
• Negative Sentiment: Several Wall Street firms cut price targets after the earnings miss, reflecting lower near-term expectations for trading revenue and profits.
• Negative Sentiment: The AWS outage disrupted Coinbase’s trading services and may have added to investor frustration around platform reliability.
• Negative Sentiment: Coinbase also announced layoffs and an AI-driven restructuring, underscoring cost pressure and a tougher demand backdrop for its core business.

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.