What is B. Riley’s Estimate for Coinbase Global Q3 Earnings?

Coinbase Global, Inc. (NASDAQ:COIN) – Research analysts at B. Riley issued their Q3 2024 earnings estimates for Coinbase Global in a note issued to investors on Tuesday, October 22nd. B. Riley analyst H. Goetsch expects that the cryptocurrency exchange will post earnings per share of $0.70 for the quarter. B. Riley has a “Hold” rating on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $3.92 per share. B. Riley also issued estimates for Coinbase Global’s Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $4.98 EPS and FY2025 earnings at $3.71 EPS.

Several other equities analysts have also recently weighed in on COIN. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Barclays increased their price objective on shares of Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $242.82.

Coinbase Global Stock Performance

COIN opened at $209.16 on Friday. The stock has a market capitalization of $51.36 billion, a price-to-earnings ratio of 41.75 and a beta of 3.35. The company has a fifty day moving average of $181.15 and a 200 day moving average of $210.59. Coinbase Global has a fifty-two week low of $70.42 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

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

Insider Transactions at Coinbase Global

In related news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 directly owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,187 shares of company stock worth $13,158,294. 23.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC increased its position in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Lynx Investment Advisory purchased a new position in Coinbase Global during the 2nd quarter valued at about $29,000. Concord Wealth Partners increased its position in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Finally, Versant Capital Management Inc increased its position in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

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.