Coinbase Global (NASDAQ:COIN) Price Target Raised to $258.00

Coinbase Global (NASDAQ:COIN) had its target price hoisted by research analysts at Morgan Stanley from $250.00 to $258.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the cryptocurrency exchange’s stock. Morgan Stanley’s price target points to a potential upside of 50.00% from the stock’s previous close.

Several other research firms also recently issued reports on COIN. Citizens Jmp cut their price objective on Coinbase Global from $325.00 to $280.00 and set a “market outperform” rating on the stock in a report on Friday. Robert W. Baird lifted their target price on shares of Coinbase Global from $130.00 to $205.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Argus restated a “hold” rating on shares of Coinbase Global in a report on Wednesday, August 26th. Barclays upped their price target on shares of Coinbase Global from $95.00 to $149.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company initiated coverage on shares of Coinbase Global in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $200.00 price objective for the company. Twenty analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $224.29.

Coinbase Global Stock Performance

COIN opened at $172.00 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The firm has a market cap of $45.38 billion, a PE ratio of -44.79 and a beta of 3.41. The business has a fifty day simple moving average of $174.67 and a 200-day simple moving average of $175.13. Coinbase Global has a fifty-two week low of $139.11 and a fifty-two week high of $402.16.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $5.14 earnings per share. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, equities analysts predict that Coinbase Global will post -0.48 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 39,030 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly owned 345,376 shares in the company, valued at $70,884,970.24. The trade was a 10.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc L. Andreessen sold 6,838 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $198.00, for a total transaction of $1,353,924.00. Following the completion of the transaction, the director directly owned 1,108,972 shares in the company, valued at $219,576,456. This trade represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,188 shares of company stock worth $23,029,558 in the last quarter. 16.66% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

A number of institutional investors have recently bought and sold shares of COIN. Archer Investment Corp purchased a new stake in shares of Coinbase Global during the 2nd quarter worth about $26,000. MV Capital Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Osbon Capital Management LLC acquired a new position in Coinbase Global in the fourth quarter worth approximately $30,000. Glen Eagle Advisors LLC raised its position in Coinbase Global by 101.1% during the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Finally, Brooklands Fund Management Ltd bought a new position in Coinbase Global during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds 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: Samsung partnership expands USDC distribution. Coinbase and Samsung plan to make USDC the default dollar stablecoin in Samsung Wallet for eligible U.S. Galaxy users, potentially reaching as many as 82 million devices. The rollout could increase USDC balances, payment activity and Coinbase’s stablecoin-related revenue opportunities. 82 Million Galaxy Devices Will Support USDC Transfers This October
• Positive Sentiment: Broader derivatives and trading offerings support diversification. Coinbase completed its Deribit integration, giving eligible U.S. customers access to global options and perpetual-futures liquidity through its regulated platform. Coinbase also plans to revive the Coinbase Pro brand by year-end with crypto options, stock trading and additional tools, which could attract more active traders and diversify transaction revenue. Coinbase brings global crypto derivatives liquidity to US with Deribit integration
• Positive Sentiment: Analyst support remains constructive. BTIG reiterated a Buy rating and a $240 price target, citing strengthening fundamentals and Coinbase’s growing diversification. Separately, commentary highlighted record USDC balances and potential recurring revenue across payments, custody, lending, trading and the Base network. BTIG Reiterates Buy on Coinbase
• Neutral Sentiment: Government Bitcoin transfers create uncertainty. The U.S. government moved approximately $1.87 billion of seized Bitcoin, including transfers to Coinbase Prime, but analysts found no confirmed sale. The transactions could increase market-supply concerns, although they may also generate custody or execution activity for Coinbase. US government moves seized Bitcoin to Coinbase Prime
• Negative Sentiment: Michigan is removing Coinbase sports prediction markets. Coinbase will discontinue sports prediction markets for Michigan customers amid regulatory pressure from the state attorney general. The move is likely a limited revenue setback but underscores the compliance risks facing Coinbase’s expansion into prediction markets. Coinbase Users in Michigan Will Lose Sports Markets

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.