HC Wainwright Boosts Earnings Estimates for Coinbase Global

Coinbase Global, Inc. (NASDAQ:COIN) – Stock analysts at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Coinbase Global in a research note issued to investors 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 has a “Buy” rating and a $330.00 price target 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.

Other analysts have also issued reports about the company. Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. JMP Securities boosted their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Bank of America boosted their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $303.94.

Coinbase Global Stock Performance

Shares of COIN opened at $264.63 on Monday. The firm has a market cap of $66.25 billion, a PE ratio of 45.16 and a beta of 3.61. The stock’s fifty day moving average price is $279.49 and its two-hundred day moving average price is $239.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75.

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

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 336,143 shares of company stock valued at $97,842,603. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Sunbelt Securities Inc. boosted its stake in shares of Coinbase Global by 14.9% in the 4th quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange’s stock worth $204,000 after buying an additional 104 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of Coinbase Global in the 4th quarter worth $640,000. Vise Technologies Inc. boosted its stake in shares of Coinbase Global by 56.1% in the 4th quarter. Vise Technologies Inc. now owns 3,930 shares of the cryptocurrency exchange’s stock worth $976,000 after buying an additional 1,413 shares during the last quarter. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Coinbase Global by 825.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 611 shares of the cryptocurrency exchange’s stock worth $152,000 after buying an additional 545 shares during the last quarter. Finally, AlphaQ Advisors LLC boosted its stake in shares of Coinbase Global by 51.4% in the 4th quarter. AlphaQ Advisors LLC now owns 2,251 shares of the cryptocurrency exchange’s stock worth $559,000 after buying an additional 764 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.