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) shares are trading higher as Bitcoin reaches all-time highs, influenced by a crypto rally and an upgrade from Goldman Sachs. Analyst Will Nance upgraded COIN from Sell to Neutral and raised the price target from $170 to $282, citing the Bitcoin halving event, BTC ETF launches, and increased political and geopolitical uncertainty as drivers. Additionally, Coinbase's daily volumes have surged to levels not seen since 2021, causing platform crashes due to high traffic. A long-term forecast suggests COIN could trade at $208.21 in 2030 based on past performance.

Portfolio Pulse from Erica Kollmann

March 11, 2024 | 4:38 pm

Coinbase shares are trading higher following Bitcoin's surge to a record high, indicating a positive correlation between the performance of cryptocurrency markets and Coinbase's stock price.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:05 pm

U.S. stocks are poised for a lower open as investors await the February CPI report, crucial for the Fed's rate decision. Last week, major indices closed lower, with tech stocks leading the decline. Analysts remain optimistic about the 'Magnificent 7' stocks despite recent volatility. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. Coinbase and Robinhood surged with Bitcoin's rise. Asana, Casey's General Stores, Oracle, and Vail Resorts are set to report earnings. Global markets showed mixed reactions, with Asian markets mostly down and European markets opening lower.

Portfolio Pulse from Shanthi Rexaline

March 11, 2024 | 11:24 am

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 10:38 am

In Monday's pre-market session, several stocks showed significant movement. GDS Holdings Limited (GDS) saw a sharp increase after reports of investment talks by Hillhouse Capital, Boyu Capital, and CDH Investments. Other stocks like Graphite Bio, Inc. (GRPH), Kingsoft Cloud Holdings Limited (KC), Revance Therapeutics, Inc. (RVNC), NuScale Power Corporation (SMR), Hesai Group (HSAI), MicroStrategy Incorporated (MSTR), Marathon Digital Holdings, Inc. (MARA), and Coinbase Global, Inc. (COIN) also recorded gains, with some driven by upcoming financial results and others by the strength in Bitcoin.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 9:50 am

Stocks experienced a mixed session with the S&P 500 and Nasdaq 100 facing weekly losses. Semiconductor stocks fell sharply due to disappointing guidance from Marvell Technology and Broadcom, affecting the sector's ETFs. Small caps outperformed, and gold reached new highs. Bitcoin saw a brief peak before pulling back. Major indices and ETFs showed varied performance, with technology stocks underperforming. Several companies moved on earnings reports, upgrades, and trial results.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 7:18 pm

Coinbase Global Inc (NASDAQ:COIN) shares rose as Bitcoin prices surged past $70,000. Goldman Sachs noted Coinbase's daily volumes reached levels not seen since 2021, prompting analyst Will Nance to upgrade COIN from Sell to Neutral and raise the price target from $170 to $282. The upgrade is based on accelerated retail adoption of crypto, despite its limited use cases, and factors like the Bitcoin halving event, BTC ETFs launch, and increased political and geopolitical uncertainty.

Portfolio Pulse from Priya Nigam

March 08, 2024 | 5:50 pm

Coinbase shares are trading higher following an upgrade from Goldman Sachs, moving from Sell to Neutral with a new price target of $282.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 3:06 pm

Goldman Sachs analyst Will Nance upgraded Coinbase Global (NASDAQ:COIN) from Sell to Neutral and set a price target of $282.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:08 am

Cathie Wood's Ark Invest sold $13.15M worth of Coinbase (COIN) shares and bought Palantir (PLTR) shares, among other trades. The sale of Coinbase shares occurred as Bitcoin neared all-time highs, while the purchase of Palantir shares followed a strong buy recommendation from Jim Cramer. Other notable trades included investments in JSC KASPI.KZ ADR (KSPI), Toast Inc (TOST), SoFi Technologies Inc (SOFI), 908 Devices Inc (MASS), Personalis Inc (PSNL), Roku Inc (ROKU), Iridium Communications Inc (IRDM), and Teradyne Inc (TER).

Portfolio Pulse from Benzinga Neuro

March 08, 2024 | 6:40 am

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