Coinbase Global (NASDAQ:COIN) Given New $205.00 Price Target at Robert W. Baird

Coinbase Global (NASDAQ:COIN) had its price objective increased by Robert W. Baird from $130.00 to $205.00 in a report published on Monday, Marketbeat reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

COIN has been the topic of a number of other reports. Benchmark reduced their price target on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Wolfe Research set a $325.00 price objective on shares of Coinbase Global in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 target price on shares of Coinbase Global in a research note on Wednesday, June 17th. Citizens Jmp reduced their target price on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Finally, The Goldman Sachs Group increased their price target on Coinbase Global from $196.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $222.94.

Coinbase Global Stock Performance

Coinbase Global stock opened at $191.79 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. The stock has a fifty day moving average price of $171.62 and a two-hundred day moving average price of $176.05. Coinbase Global has a 52-week low of $139.11 and a 52-week high of $402.16. The firm has a market capitalization of $50.60 billion, a P/E ratio of -49.95 and a beta of 3.39.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm posted $5.14 EPS. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global will post -0.48 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CFO Alesia Haas sold 39,030 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the sale, the chief financial officer directly owned 345,376 shares of the company’s stock, valued at $70,884,970.24. This represents a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 13,676 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $181.14, for a total transaction of $2,477,270.64. Following the completion of the sale, the director directly owned 1,136,324 shares of the company’s stock, valued at approximately $205,833,729.36. This represents a 1.19% decrease in their position. 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. Insiders have sold a total of 116,674 shares of company stock valued at $20,720,336 over the last ninety days. Company insiders own 16.66% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its stake in shares of Coinbase Global by 26.0% during the second quarter. QRG Capital Management Inc. now owns 30,358 shares of the cryptocurrency exchange’s stock valued at $4,605,000 after acquiring an additional 6,256 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Coinbase Global by 13.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 44,011 shares of the cryptocurrency exchange’s stock valued at $6,586,000 after acquiring an additional 5,343 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Coinbase Global by 185.5% in the second quarter. Sequoia Financial Advisors LLC now owns 25,507 shares of the cryptocurrency exchange’s stock worth $3,729,000 after purchasing an additional 16,572 shares during the period. Whetstone Capital Advisors LLC increased its position in Coinbase Global by 86.3% in the second quarter. Whetstone Capital Advisors LLC now owns 47,048 shares of the cryptocurrency exchange’s stock worth $6,878,000 after purchasing an additional 21,788 shares during the period. Finally, National Pension Service raised its holdings in Coinbase Global by 117.1% during the 2nd quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock worth $93,784,000 after purchasing an additional 346,045 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global News Summary

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

• Positive Sentiment: Citi partnership expands Coinbase’s institutional opportunity. Citigroup is working with Coinbase to provide blockchain infrastructure for corporate stablecoin payments, while Citi converts the digital assets into fiat currency and handles settlement. The arrangement could make stablecoin payments more practical for large businesses without requiring merchants to custody tokens directly. Coinbase will also use Citi’s virtual-account services to support fiat-to-stablecoin conversions. Citi Expands Digital-Assets Footprint With Coinbase Partnership
• Positive Sentiment: Analysts raised their valuation estimates. Keefe, Bruyette & Woods initiated coverage with an “outperform” rating and a $237 price target. Robert W. Baird raised its target from $130 to $205, although it maintained a “neutral” rating. The revisions suggest that analysts see potential value from Coinbase’s payments expansion despite the company’s recent earnings miss. Coinbase Stock: Citi Partnership Sparks Price Target Hike
• Positive Sentiment: Coinbase continues broadening its product ecosystem. The exchange has begun offering U.S. retail investors access to IPO allocations, adding another potential revenue stream and strengthening its position beyond spot cryptocurrency trading. Coinbase Adds IPO Share Trading
• Neutral Sentiment: Riot Platforms repaid a $200 million Coinbase credit facility. The repayment releases Bitcoin, USDC and cash collateral held through Coinbase. It reduces Coinbase’s lending exposure and associated credit risk, but may also eliminate interest income from the facility. Riot Platforms Repays $200M Credit Facility
• Negative Sentiment: Crypto-cycle and valuation concerns remain significant. Commentary emphasizes that Coinbase’s earnings are highly dependent on cryptocurrency prices, trading activity and investor sentiment. Its latest quarter missed consensus estimates on both earnings and revenue, leaving the stock vulnerable if Bitcoin activity weakens further.
• Negative Sentiment: CEO Brian Armstrong tempered expectations for Bitcoin. Armstrong said his previously discussed $400,000 Bitcoin target is not guaranteed, which may reinforce investor caution around forecasts that support Coinbase’s growth outlook. Coinbase CEO Says His $400K Bitcoin Target Isn’t Guaranteed

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.