Raymond James Financial began coverage on shares of Coinbase Global (NASDAQ:COIN) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the cryptocurrency exchange’s stock.
Other equities analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Citigroup restated a “market outperform” rating on shares of Coinbase Global in a research report on Thursday, July 9th. Monness Crespi & Hardt restated a “sell” rating on shares of Coinbase Global in a research note on Friday, June 5th. Wedbush set a $224.00 target price on Coinbase Global in a research note on Friday, May 8th. Finally, Robert W. Baird reduced their target price on Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $239.14.
Coinbase Global Stock Down 1.8%
Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. Sell-side analysts forecast that Coinbase Global will post 1.42 earnings per share for the current fiscal year.
Insider Activity at Coinbase Global
In related news, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at $3,181,800. This represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider directly owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. The trade was a 2.26% 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. In the last quarter, insiders have sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is currently owned by company insiders.
Institutional Trading of Coinbase Global
Hedge funds and other institutional investors have recently modified their holdings of the stock. Formidable Asset Management LLC lifted its stake in shares of Coinbase Global by 2.2% in the 4th quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange’s stock valued at $469,000 after acquiring an additional 44 shares during the last quarter. L2 Asset Management LLC grew its position in Coinbase Global by 5.0% during the 3rd quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock worth $326,000 after acquiring an additional 46 shares during the last quarter. Ancora Advisors LLC grew its position in Coinbase Global by 4.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock worth $396,000 after acquiring an additional 51 shares during the last quarter. Fulton Bank N.A. increased its holdings in Coinbase Global by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange’s stock worth $863,000 after purchasing an additional 53 shares in the last quarter. Finally, SRH Advisors LLC increased its holdings in Coinbase Global by 10.1% in the 4th quarter. SRH Advisors LLC now owns 600 shares of the cryptocurrency exchange’s stock worth $136,000 after purchasing an additional 55 shares in the last quarter. 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 unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
- Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
- Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
- Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global (NASDAQ:COIN)
- Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
- Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
- Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
- Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage
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.
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