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 sold shares of Coinbase (COIN), Nvidia (NVDA), and Alphabet (GOOGL), while buying shares of Unity Software (U) and 10X Genomics (TXG). The sales occurred despite Coinbase's surprise profit and amidst a Bitcoin rally. Nvidia and Alphabet shares were sold amid AI sector adjustments, with concerns over Nvidia's valuation and Alphabet facing new competition from OpenAI. Ark also increased investments in U and TXG, indicating a bullish outlook on gaming, software, and genomics sectors.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 5:07 am

DraftKings, Coinbase, Super Micro Computer, Roku, and Tesla were among the top stocks on investors' radars, with significant movements and news impacting their stock prices. DraftKings reported a 44% increase in Q4 revenue and an acquisition to boost its digital lottery market presence. Coinbase exceeded Q4 revenue estimates with transaction revenue up by 83%. Super Micro Computer surged due to its strong AI market positioning. Roku saw a 14% increase in Q4 revenue, with strategic expansions into branded TVs. Tesla's stock rose amid CEO Elon Musk's compensation plan appeal, reflecting strategic responses to challenges.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 2:17 am

Marc Chaikin, founder of Chaikin Analytics, differentiates between the investment potential of AI and crypto sectors. He favors AI, particularly semiconductor stocks like NVIDIA Corp (NVDA) and Super Micro Computer Inc (SMCI), over crypto stocks. Chaikin suggests taking profits in SMCI around $1,000 a share. Despite the recent surge in Coinbase Global Inc (COIN) due to crypto highs, Chaikin prefers AI, which benefits various tech industries. He also mentions Gartner Inc (IT) and Fortinet Inc (FTNT) as part of the AI boom.

Portfolio Pulse from Aaron Bry

February 15, 2024 | 10:31 pm

Coinbase Global Inc (NASDAQ:COIN) reported Q4 earnings with revenue of $953.79 million, surpassing the consensus estimate of $822.36 million, and a surprise profit of $1.04 per share against an expected loss of 1 cent per share. This marks the fourth consecutive quarter Coinbase has exceeded analyst expectations. Transaction revenue rose 83% QoQ to $529 million, while subscription and services revenue increased 12% QoQ to $375 million. Bitcoin and Ethereum represented significant portions of trading volume and transaction revenues. The company aims to focus on driving revenue, utility in crypto, and regulatory clarity in 2024. Coinbase anticipates Q1 subscription and services revenue between $410 million and $480 million, with $320 million in transaction revenue as of Feb. 13. Shares were up 8.41% after hours at $179.45.

Portfolio Pulse from Adam Eckert

February 15, 2024 | 9:48 pm

Coinbase shares are trading higher following the announcement of their Q4 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:23 pm

Coinbase Global (COIN) reported Q4 earnings of $1.04 per share, surpassing the analyst consensus estimate of $(0.01) by 10500%. This represents a 142.28% increase over the previous year's losses of $(2.46) per share. Quarterly sales reached $953.79 million, exceeding estimates of $822.36 million by 15.98% and marking a 51.61% increase from the previous year.

Portfolio Pulse from Happy Mohamed

February 15, 2024 | 9:09 pm

Coinbase Global, Inc (NASDAQ:COIN) is anticipated to release its Q4 financial results, with analysts expecting earnings of 2 cents per share on revenues of $823.85 million. JPMorgan upgraded Coinbase to Neutral with an $80 price target. Investors are keen on Coinbase's Bitcoin and Ethereum trading revenue. For diversified investment, TARK ETF, which includes Coinbase as a top holding, and SARK ETF for bearish positions are options. Technical analysis suggests a mildly bullish outlook for Coinbase but indicates a potential need for a pullback.

Portfolio Pulse from Melanie Schaffer

February 15, 2024 | 7:54 pm

JPMorgan Chase upgraded Coinbase Global Inc. (NASDAQ:COIN) from Underweight to Neutral, citing the surge in Bitcoin prices and the positive impact of U.S. spot Bitcoin ETFs on Coinbase's earnings. The bank maintained an $80 price target on COIN. The inflows into Bitcoin ETFs and the rise in cryptocurrency prices have bolstered the market, benefiting Coinbase's transaction-based revenue model. Despite the upgrade, JPMorgan remains cautious about Coinbase's valuation and competitive risks from ETFs. COIN shares were up 3.4% to $165.83 following the announcement.

Portfolio Pulse from Murtuza Merchant

February 15, 2024 | 5:40 pm

Coinbase Global, Inc. (NASDAQ:COIN) shares rose after JP Morgan upgraded the stock from Underweight to Neutral with an $80 price target, citing significant price appreciation of Bitcoin and Ethereum. However, concerns were raised about new spot Bitcoin ETFs as potential competition. Coinbase shares have gained 25% in the past five days, with investors eyeing the Bitcoin halving event. The company is expected to report a Q4 loss of 1 cent per share and revenue of $822.364 million.

Portfolio Pulse from Erica Kollmann

February 15, 2024 | 5:37 pm

Today's whale activity in the Financials sector highlighted significant options trading across various stocks, indicating potential trading opportunities. Notable bullish and bearish sentiments were observed in stocks like WFC, C, COIN, AMBC, SOFI, ABR, AFRM, NYCB, FLYW, and PYPL, with trades involving both call and put options across different expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 5:35 pm

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