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

257.67

Mkt cap

68B

Volume

17M

High

273.50

P/E Ratio

45.66

52-wk high

283.48

Low

257.15

Div yield

N/A

52-wk low

88.62

Cathie Wood's Ark Invest purchased over $25M worth of Roku shares, signaling confidence in its long-term value despite recent dips. The firm also sold shares in Coinbase and Robinhood, adjusting its portfolio amid market dynamics. Additionally, Ark Invest bought shares in Unity Software and 10X Genomics, while selling Twilio and Zoom shares, reflecting strategic shifts in its investment focus.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 3:54 am

Retail investors are cautiously returning to the cryptocurrency market, with significant increases in activity reported by major U.S. crypto exchanges like Coinbase and Robinhood. Despite the market's volatility and the losses faced during the 2022 crash, the launch of U.S. ETFs investing in Bitcoin has reignited interest. However, the current level of enthusiasm does not match the previous bull market's fervor. Retail traders, crucial to the crypto ecosystem, are adopting a more measured approach, emphasizing risk management and the potential for long-term growth.

Portfolio Pulse from Murtuza Merchant

February 20, 2024 | 8:38 pm

20 analysts have recently updated their ratings on Coinbase Global (NASDAQ:COIN), showing a diverse range of opinions from bullish to bearish. The average 12-month price target is now $153.4, up 36.26% from the previous $112.58, indicating a positive sentiment shift. Analysts from firms like Goldman Sachs, JMP Securities, and HC Wainwright & Co. have raised their price targets, reflecting optimism about Coinbase's market position and financial performance, including a notable revenue growth rate and strong profitability metrics.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 4:00 pm

This week in AI featured Elon Musk's critique of OpenAI, Apple's AI animation tool Keyframer, Nvidia surpassing Google and Amazon in market cap, Ark Invest's portfolio adjustments favoring Tesla and META, and Jim Chanos' caution on Nvidia. Musk criticized OpenAI's shift to a profit model and its partnership with Microsoft. Apple's Keyframer could revolutionize AI animation. Nvidia's H100 AI processor has driven its market value, while Ark Invest shifts its focus towards Tesla and META, reducing stakes in Coinbase and Nvidia. Chanos highlighted potential concerns for Nvidia despite its growth.

Portfolio Pulse from Benzinga Neuro

February 18, 2024 | 8:08 am

Cathie Wood's Ark Invest purchased $107.5M worth of Roku shares following a 24% drop in its stock price due to disappointing Q4 user spending and Q1 guidance. Ark also increased its stake in SoFi Technologies but reduced its holdings in Robinhood and Coinbase, despite their recent rallies. Ark's ETFs, ARKK, AKRW, and ARKF, were the vehicles for these transactions. Analysts have lowered Roku's price targets, reflecting concerns over its growth and operating costs.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 5:59 pm

JMP Securities analyst Devin Ryan has maintained a Market Outperform rating on Coinbase Global (NASDAQ:COIN) and increased the price target from $200 to $220.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 7:39 pm

Wall Street experienced a pause in its recent rally due to a higher-than-expected Producer Price Index (PPI) report for January 2024, indicating persistent inflation. This led to a reduction in expectations for Federal Reserve rate cuts and a rise in yields. The tech-heavy Nasdaq 100 and stocks like Microsoft and Amazon ended their five-week positive streak. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust saw declines, while certain stocks reacted to their earnings reports with significant price movements.

Portfolio Pulse from Piero Cingari

February 16, 2024 | 7:21 pm

Coinbase Global Inc (NASDAQ:COIN) received positive analyst ratings following its Q4 earnings beat, with revenue of $953.8 million and EPS of $0.51, surpassing expectations. Analysts highlighted Coinbase's thriving business amid increased volatility, trading volumes, and partnerships, particularly noting its role as custodian for 8 of the 11 approved spot BTC ETFs. Price targets were raised by several analysts, reflecting optimism about Coinbase's market leadership, expansion, and product initiatives. However, Goldman Sachs maintained a Sell rating despite raising its price target, citing market conditions as primary performance drivers.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 6:15 pm

HC Wainwright & Co. analyst Mike Colonnese maintains a Buy rating on Coinbase Global (COIN) and raises the price target from $115 to $250.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 6:08 pm

DoorDash shares fell by 12.2% after reporting mixed Q4 results and providing Q1 guidance. Other stocks showed significant movements, with Gaxos.ai surging 444% after announcing an AI solution for game developers, and Fusion Fuel Green climbing 157% following European Commission approval for its project. Losers included China Natural Resources, dropping 48% after a direct placement announcement, and Bloom Energy, falling 24% due to disappointing Q4 results.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 6:04 pm

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