Coinbase Global FY2024 EPS Forecast Lifted by HC Wainwright

Coinbase Global, Inc. (NASDAQ:COIN) – HC Wainwright boosted their FY2024 earnings per share estimates for Coinbase Global in a report released on Wednesday, February 12th. HC Wainwright analyst M. Colonnese now forecasts that the cryptocurrency exchange will post earnings per share of $6.13 for the year, up from their previous estimate of $4.15. HC Wainwright has a “Buy” rating and a $330.00 price objective 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 earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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%.

COIN has been the subject of a number of other reports. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Oppenheimer lowered their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.94.

Coinbase Global Price Performance

Coinbase Global stock opened at $264.63 on Monday. Coinbase Global has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $66.25 billion, a PE ratio of 45.16 and a beta of 3.61. The stock has a 50-day moving average price of $279.49 and a two-hundred day moving average price of $239.21.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in Coinbase Global during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global during the third quarter worth $25,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Coinbase Global during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the transaction, the chief operating officer now owns 177,576 shares of the company’s stock, valued at $52,972,696.56. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,386,983.38. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 336,143 shares of company stock valued at $97,842,603. Company insiders own 23.43% 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.