FY2024 EPS Estimate for Coinbase Global Increased by Analyst

Coinbase Global, Inc. (NASDAQ:COIN) – Research analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of Coinbase Global in a research note issued on Wednesday, February 12th. HC Wainwright analyst M. Colonnese now anticipates that the cryptocurrency exchange will post earnings per share of $6.13 for the year, up from their prior estimate of $4.15. HC Wainwright currently has a “Buy” rating and a $330.00 target price on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $4.81 per share. HC Wainwright also issued estimates for Coinbase Global’s Q4 2024 earnings at $2.21 EPS, Q1 2025 earnings at $1.86 EPS, Q2 2025 earnings at $1.79 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at $2.52 EPS, FY2025 earnings at $8.29 EPS, Q1 2026 earnings at $2.65 EPS, Q2 2026 earnings at $2.75 EPS, Q3 2026 earnings at $25.83 EPS, Q4 2026 earnings at $2.89 EPS and FY2026 earnings at $11.13 EPS.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%.

Several other analysts also recently weighed in on the stock. Monness Crespi & Hardt lifted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday. Piper Sandler lifted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday. Finally, Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.17.

Coinbase Global Trading Down 8.0 %

Coinbase Global stock opened at $274.31 on Monday. The company has a market cap of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61. The firm’s 50-day moving average is $280.97 and its 200-day moving average is $238.36. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Institutional Trading of Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,529 shares of company stock valued at $95,595,712 in the last quarter. 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.