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

Wall Street experienced a late-week rally driven by positive inflation data and strong corporate earnings. The Dow Jones surged 1.9%, marking its best session of 2024, while the Nasdaq 100 and Russell 2000 also posted gains. Investors are confident in a Fed rate cut in September. Key movers included 3M, Aon, Avantor, and Newell Brands.

Portfolio Pulse from Piero Cingari

July 26, 2024 | 5:51 pm

Coinbase Global, Inc. (NASDAQ:COIN) shares are moving higher on Friday following a rise in Bitcoin's price above $67,000. Other crypto-linked stocks like Riot Platforms, Inc. (NASDAQ:RIOT) and CleanSpark, Inc. (NASDAQ:CLSK) are also seeing gains. Coinbase is trading at $239.65, slightly above its 50-day moving average, and is expected to report earnings next Thursday. Citigroup recently upgraded Coinbase from Neutral to Buy, raising the price target to $345.

Portfolio Pulse from Dylan Berman

July 26, 2024 | 4:39 pm

MicroStrategy, Inc. (MSTR) stock is moving higher on Friday due to a rise in Bitcoin's price above $67,000. Other crypto-linked stocks like Riot Platforms, Inc. (RIOT) and Coinbase Global, Inc. (COIN) are also seeing gains. MicroStrategy is trading at $1,758, significantly above its 50-day moving average of $1,529. The company is expected to report earnings on Thursday, with analysts predicting a loss of $1.10 per share and revenue of $122.60 million.

Portfolio Pulse from Dylan Berman

July 26, 2024 | 3:21 pm

Shares of crypto-linked stocks are trading higher after Bitcoin rose above $67,000.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 1:08 pm

US stocks are poised to end the week on a high note, led by Nvidia and other mega-cap tech stocks in premarket trading. Key inflation data will be crucial for sustaining the rally. Major index futures are higher, with the Nasdaq 100 and S&P 500 showing gains. Several companies, including Apple, Amazon, Microsoft, and Meta, are set to release earnings next week. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed mixed premarket performance. Deckers Outdoor Corporation, Boyd Gaming Corporation, Mohawk Industries, and DexCom reacted to their earnings. Tech stocks like Nvidia, Micron, Broadcom, and AMD firmed up in premarket trading.

Portfolio Pulse from Shanthi Rexaline

July 26, 2024 | 11:39 am

Chris Lehane, a former Clinton White House staffer and OpenAI executive, has joined the board of directors at Coinbase Global Inc. (NASDAQ:COIN). Lehane's appointment comes as the political landscape in the U.S. shifts in favor of cryptocurrencies. Investment bank Citi has upgraded Coinbase shares from neutral to buy, anticipating an improved regulatory environment. Shares of Coinbase rose 1.81% in after-hours trading following the announcement.

Portfolio Pulse from Aniket Verma

July 26, 2024 | 3:26 am

Recent unusual options activity for Coinbase Glb (NASDAQ:COIN) has been observed, with a significant amount of bullish trades. The options scanner detected 22 uncommon trades, with 18 calls and 4 puts. Analysts have mixed ratings, with price targets ranging from $196 to $345. The stock is currently down 2.48% at $251.23.

Portfolio Pulse from Benzinga Insights

July 24, 2024 | 2:16 pm

Citi has upgraded Coinbase Global Inc. (NASDAQ:COIN) from neutral to buy, citing favorable regulatory shifts and a positive outlook for the cryptocurrency industry following President Joe Biden's withdrawal from the presidential race. The Supreme Court's decision to remove the Chevron Defence Doctrine is also seen as beneficial for Coinbase in its legal battles with the SEC.

Portfolio Pulse from Aniket Verma

July 24, 2024 | 6:20 am

Shares of crypto-linked stocks are trading lower amid a drop in the price of Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 7:46 pm

Nine spot Ethereum ETFs have launched on US exchanges, marking a significant milestone in the mainstream adoption of digital assets. Major financial players like BlackRock, Fidelity, and Grayscale are offering these ETFs, which have seen substantial trading volumes in their early hours. Experts have mixed views on the immediate impact, but agree on the long-term potential for increased institutional involvement and regulatory clarity.

Portfolio Pulse from Murtuza Merchant

July 23, 2024 | 5:21 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.