Coinbase Global (NASDAQ:COIN) Price Target Lowered to $177.00 at Needham & Company LLC

Coinbase Global (NASDAQ:COIN) had its price target cut by Needham & Company LLC from $220.00 to $177.00 in a report issued on Friday, MarketBeat reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Several other brokerages have also recently weighed in on COIN. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Coinbase Global in a research report on Friday. Bank of America decreased their target price on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. JPMorgan Chase & Co. lifted their target price on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Citigroup reissued a “market outperform” rating on shares of Coinbase Global in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $221.31.

Coinbase Global Price Performance

COIN stock opened at $146.26 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. Coinbase Global has a 1 year low of $139.11 and a 1 year high of $402.16. The firm has a 50-day moving average of $163.23 and a 200 day moving average of $181.72. The company has a market cap of $38.53 billion, a P/E ratio of -38.09, a PEG ratio of 11.88 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share 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 3.04%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $5.14 earnings per share. The business’s revenue was down 18.5% compared to the same quarter last year. On average, sell-side analysts forecast that Coinbase Global will post 1.25 EPS for the current year.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 owned 20,000 shares in the company, valued at approximately $3,181,800. This represents a 33.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 30,627 shares of company stock valued at $5,327,841. Company insiders own 16.66% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently made changes to their positions in the company. Formidable Asset Management LLC increased its position in shares of Coinbase Global by 2.2% during the fourth 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 in the last quarter. L2 Asset Management LLC lifted its position in Coinbase Global by 5.0% in the 3rd quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock valued at $326,000 after acquiring an additional 46 shares in the last quarter. Ancora Advisors LLC lifted its position in Coinbase Global by 4.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock valued at $396,000 after acquiring an additional 51 shares in the last quarter. Fulton Bank N.A. boosted its stake in Coinbase Global by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange’s stock valued at $863,000 after purchasing an additional 53 shares during the last quarter. Finally, SRH Advisors LLC boosted its stake in Coinbase Global by 10.1% during the 4th quarter. SRH Advisors LLC now owns 600 shares of the cryptocurrency exchange’s stock valued at $136,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other 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 captured a record 10.3% of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining share even as the overall market contracts. Coinbase Hits Record Market Share Despite Loss
• Positive Sentiment: Management highlighted growth in derivatives, stablecoins, prediction markets, Base and agent-driven finance as it seeks to become an “everything exchange” less dependent on spot crypto trading. Some analysts believe this diversification could improve resilience during crypto downturns. Coinbase Earnings Call Highlights
• Positive Sentiment: A federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, reducing a significant legal overhang, although related litigation risk remains. Coinbase Wins Dismissal in Token Lawsuit
• Neutral Sentiment: Several analysts maintained Buy or Outperform ratings and cited long-term upside, but lowered targets after the earnings report. Needham reduced its target to $177, while Oppenheimer cut its target to $193; Canaccord reaffirmed a $300 target.
• Negative Sentiment: Second-quarter revenue fell about 19% year over year to $1.22 billion, below estimates near $1.3 billion. Transaction revenue declined 21% to $599 million as lower spot-market volumes and subdued volatility hurt trading activity. Coinbase Reports Third Straight Quarterly Loss
• Negative Sentiment: Coinbase posted a GAAP net loss of approximately $359 million, or $1.36 per share, far worse than expectations, marking its third consecutive quarterly loss. Subscription and services growth was not sufficient to offset the trading slump. Coinbase Q2 Results Miss Estimates
• Negative Sentiment: Falling Bitcoin prices and reduced crypto ETF inflows are pressuring the entire crypto-linked equity group. Analysts also cut earnings forecasts, with some projecting a full-year loss, reinforcing concerns that Coinbase remains highly exposed to the crypto cycle.

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.