Streetbeat News

COIN

Coinbase Global, Inc.

https://www.coinbase.com

Industry

Software - Application

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global, Inc. was founded in 2012 and is based in Wilmington, Delaware.

Open

282.51

Mkt cap

77B

Volume

18M

High

306.45

P/E Ratio

52.02

52-wk high

334.86

Low

276.02

Div yield

N/A

52-wk low

94.90

Coinbase Global Inc (NASDAQ:COIN) has integrated a new messaging feature into its Wallet, in partnership with XMTP, an open protocol and network for secure Web3 messaging. The feature combines messaging and payments, eliminating the need for separate apps. It offers end-to-end encryption and allows users to directly message any .eth, .cb.id, or .lens address, make offers on NFTs directly through their wallets, engage with their communities and send payments across thousands of coins, including gas-free USD Coin (CRYPTO: USDC).

Portfolio Pulse from Murtuza Merchant

July 12, 2023 | 6:57 pm

Atlantic Equities has downgraded Coinbase's stock from Overweight to Neutral, but increased its price target from $70 to $80. This has led to a decrease in Coinbase's share trading.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 3:40 pm

Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm

Several companies have had their price targets adjusted by various analysts. Citigroup raised Tesla's price target from $215 to $278 and General Motors' from $85 to $89. B of A Securities increased GitLab's price target from $55 to $60. Raymond James raised Chart Industries' price target from $160 to $175. Atlantic Equities increased Coinbase's price target from $70 to $80. Deutsche Bank raised Broadcom's price target from $870 to $905. Needham increased Salesforce's price target from $230 to $250. JMP Securities raised Carvana's price target from $25 to $50. UBS increased W.W. Grainger's and Netflix's price targets from $815 to $820 and $390 to $525 respectively. Loop Capital raised The TJX Companies' price target from $75 to $95.

Portfolio Pulse from Lisa Levin

July 12, 2023 | 12:06 pm

Atlantic Equities analyst Simon Clinch has downgraded Coinbase Global (NASDAQ:COIN) from Overweight to Neutral, while raising the price target from $70 to $80.

Portfolio Pulse from richadhand@benzinga.com

July 12, 2023 | 9:38 am

Ark Invest, led by Cathie Wood, sold 135,152 shares of Coinbase Global, Inc. (NASDAQ:COIN) from its flagship Ark Innovation ETF (NASDAQ:ARKK), generating proceeds of $12.05 million. This sale occurred as Coinbase shares rallied 9.78% following an announcement of a surveillance-sharing agreement with CBOE's BZX Exchange for five of its Bitcoin ETFs.

Portfolio Pulse from Shanthi Rexaline

July 12, 2023 | 6:42 am

Benzinga Pro has released the list of the 20 most-searched tickers for the first half of 2023. The top 10 include SPDR S&P 500 ETF Trust (SPY), Tesla Inc (TSLA), Nvidia Corp (NVDA), Apple Inc (AAPL), C3.ai Inc (AI), Amazon.com, Inc. (AMZN), Advanced Micro Devices (AMD), Invesco QQQ Trust Series 1 (QQQ), Meta Platforms Inc (META), and First Republic Bank (FRCB). The list also includes honorable mentions from 11th to 20th place. C3.ai was the only newcomer to the top 10, with a 229.1% YTD return.

Portfolio Pulse from Chris Katje

July 11, 2023 | 9:08 pm

Coinbase has reached a surveillance-sharing agreement for five of its spot bitcoin ETF applications, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 7:48 pm

Coinbase Global has resolved the connection issues for Coinbase.com, according to a Reuters report.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 5:33 pm

Shares of Coinbase Global, Inc. (NASDAQ:COIN) are trading 10% higher on Tuesday, continuing the stock's upward momentum from the last 30 days. The company's stock price has risen more than 65% over the last 30 days. JMP Securities analyst Devin Ryan reiterated coverage on Coinbase with a Market Outperform rating and maintained the $90 price target for COIN. The larger crypto market has recently surged with the price of Bitcoin surpassing the $31,000 mark. BlackRock submitted an amended application to the SEC for a spot Bitcoin ETF that includes custodial and market surveillance agreements with Coinbase Global.

Portfolio Pulse from Erica Kollmann

July 11, 2023 | 5:06 pm

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