HC Wainwright Weighs in on Coinbase Global FY2025 Earnings

Coinbase Global, Inc. (NASDAQ:COIN - Free Report) - Equities research analysts at HC Wainwright issued their FY2025 earnings estimates for shares of Coinbase Global in a research report issued to clients and investors on Tuesday, October 29th. HC Wainwright analyst M. Colonnese forecasts that the cryptocurrency exchange will earn $5.02 per share for the year. HC Wainwright currently has a "Buy" rating and a $295.00 price target on the stock. The consensus estimate for Coinbase Global's current full-year earnings is $3.92 per share.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC raised their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price objective on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday. Citigroup raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and lifted their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Compass Point decreased their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $246.28.

Coinbase Global Stock Down 13.6 %

Shares of COIN traded down $28.74 during midday trading on Thursday, reaching $183.00. The stock had a trading volume of 13,699,524 shares, compared to its average volume of 10,399,951. The company's fifty day simple moving average is $181.94 and its two-hundred day simple moving average is $209.22. Coinbase Global has a 1-year low of $73.56 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $45.47 billion, a price-to-earnings ratio of 33.66 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the business posted ($0.42) EPS. The business's revenue for the quarter was up 104.8% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COIN. Global Retirement Partners LLC lifted its position in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange's stock worth $477,000 after purchasing an additional 1,540 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global in the second quarter worth $2,908,000. Intech Investment Management LLC boosted its stake in Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange's stock worth $10,752,000 after buying an additional 33,240 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange's stock valued at $2,156,000 after buying an additional 5,493 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Coinbase Global by 122.2% in the 3rd quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange's stock worth $1,337,000 after purchasing an additional 4,127 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul Grewal sold 16,962 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 400 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares of the company's stock, valued at approximately $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,687 shares of company stock worth $14,908,594. Corporate insiders own 23.43% of the company's stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.