Coinbase Global (NASDAQ:COIN – Get Free Report) had its price target dropped by analysts at Freedom Broker from $185.00 to $175.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the cryptocurrency exchange’s stock. Freedom Broker‘s price target would indicate a potential upside of 29.86% from the stock’s previous close.
A number of other research analysts have also commented on COIN. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Raymond James Financial began coverage on Coinbase Global in a research report on Wednesday, July 22nd. They issued a “market perform” rating on the stock. Wall Street Zen raised Coinbase Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 31st. Bank of America restated a “buy” rating on shares of Coinbase Global in a research report on Monday, October 5th. Finally, Argus restated a “hold” rating on shares of Coinbase Global in a research note on Wednesday, August 26th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four 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 price target of $209.88.
Check Out Our Latest Stock Report on COIN
Coinbase Global Price Performance
Coinbase Global stock traded down $2.06 during midday trading on Friday, reaching $134.76. 7,557,782 shares of the stock were exchanged, compared to its average volume of 10,056,001. The company’s fifty day moving average is $176.47 and its 200-day moving average is $176.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market cap of $35.55 billion, a PE ratio of -47.62 and a beta of 3.35. Coinbase Global has a 52 week low of $131.55 and a 52 week high of $324.80.
Insider Activity at Coinbase Global
In related news, CFO Alesia J. Haas sold 39,030 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $205.24, for a total value of $8,010,517.20. Following the transaction, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc L. Andreessen sold 6,838 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $198.00, for a total value of $1,353,924.00. Following the sale, the director owned 1,108,972 shares in the company, valued at $219,576,456. The trade was a 0.61% 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. Over the last quarter, insiders sold 92,120 shares of company stock valued at $17,968,544. 16.66% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Coinbase Global
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Financial Freedom LLC bought a new stake in Coinbase Global in the 3rd quarter worth approximately $98,000. Money Concepts Capital Corp grew its position in Coinbase Global by 52.8% during the third quarter. Money Concepts Capital Corp now owns 4,366 shares of the cryptocurrency exchange’s stock valued at $814,000 after acquiring an additional 1,508 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its position in Coinbase Global by 30.7% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 422 shares of the cryptocurrency exchange’s stock valued at $79,000 after acquiring an additional 99 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Coinbase Global by 9.6% during the third quarter. Maryland State Retirement & Pension System now owns 13,350 shares of the cryptocurrency exchange’s stock worth $2,489,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Coinbase Global during the third quarter worth approximately $246,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting Coinbase Global
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase is expanding its services: eligible U.S. users can borrow USDC against tokenized gold, while Coinbase Prime now offers eligible institutions access to Deribit options and perpetual futures. These initiatives could broaden product use and revenue sources. Coinbase Enables Borrowing Against Gold via Morpho Coinbase Prime opens Deribit options and perps to eligible US institutions
- Positive Sentiment: Growing subscription revenue and cost discipline may make the business more resilient than trading fees alone would suggest, though the article also flags profitability and valuation risks. Is Coinbase Building a More Resilient and Profitable Business?
- Neutral Sentiment: Coinbase says more than 99% of customer crypto is held offline and described controls designed to limit hot-wallet exposure, after a major Binance hack raised concerns about exchange security. The reassurance may help maintain customer confidence, but the incident has also put sector-wide security risks in focus. Hackers beware: Coinbase says 99% of customer crypto is kept offline
- Negative Sentiment: Bitcoin’s drop below $76,000 in a broad market sell-off weighed on crypto-linked shares. Coinbase can move more sharply than the wider market because trading fees and earnings tend to track crypto prices and activity. Coinbase Sinks as Bitcoin Falls Below $76,000
- Negative Sentiment: Analysts also cite crypto volatility, weak underlying profits and a rich valuation as risks. Separately, Morgan Stanley’s negative reaction to the Binance breach added pressure despite Coinbase not being affected by that incident. Coinbase business resilience and risks Coinbase gets downgraded for a breach that happened elsewhere
Coinbase Global Company Profile
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.
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