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

Mizuho analyst Dan Dolev has maintained an Underperform rating on Coinbase Global (NASDAQ:COIN) but increased the price target from $35 to $54.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 3:25 pm

JMP Securities analyst Devin Ryan has maintained a 'Market Outperform' rating on Coinbase Global (NASDAQ:COIN) and increased the price target from $107 to $200.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 3:15 pm

Insiders at Alphabet, Coinbase Global, VeriSign, and Toll Brothers have recently sold shares of their companies. While insider sales can be part of preplanned strategies, they can also suggest concerns about the company's prospects or overvaluation. VeriSign reported lower-than-expected Q3 revenue, Coinbase registered as a VASP in France, Alphabet launched VideoPoet, and Toll Brothers initiated a new share repurchase program.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 12:41 pm

Coinbase Inc. (NASDAQ:COIN) has seen its stock surge by 400% in 2023, outperforming Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). A $1,000 investment in COIN at the start of the year would now be worth $5,000.89. In comparison, the same investment would have grown to $2,638.73 in BTC, $1,864 in ETH, and $1,352 in DOGE. Despite the stock's growth, ARK Invest has reduced its exposure to COIN. Coinbase CEO Brian Armstrong is optimistic about crypto's future and is supporting pro-crypto U.S. election candidates.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 12:30 pm

France is encouraging crypto companies to establish operations within its borders by offering regulatory clarity. Circle has received conditional registration as a digital asset service provider from France's AMF, with the condition of obtaining a payment services provider license. Circle has appointed Coralie Billmann to lead its French operations. Coinbase Global Inc has been registered as a Virtual Asset Services Provider in France, allowing it to offer a range of crypto services. Both companies are positioning themselves ahead of the EU's MiCA legislation, which will be effective in 2024.

Portfolio Pulse from Khyathi Dalal

December 21, 2023 | 8:31 pm

Coinbase Global, Inc (NASDAQ:COIN) stock is trading higher after receiving registration from France's AMF as a virtual asset service provider (VASP). This allows Coinbase to offer a range of digital currency services in France, aligning with the EU's upcoming Markets in Crypto Assets (MiCA) regulation. The expansion is seen as strategic amid a tougher U.S. regulatory environment, with the SEC targeting crypto companies. France's tech-forward stance under the 'France 2030' plan and growing crypto adoption make it an attractive market for Coinbase.

Portfolio Pulse from Anusuya Lahiri

December 21, 2023 | 5:23 pm

Cathie Wood's Ark Invest made significant trades on Wednesday, buying shares of Tesla (TSLA) and Meta Platforms (META), while selling shares of Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC). The purchases were made through various Ark ETFs, including ARKK, ARKW, and ARKF. The trades reflect Wood's confidence in Tesla and Meta as tech innovators and her strategic adjustments to market volatility and potential regulatory changes in the crypto space.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 2:49 am

Coinbase Global Inc. (NASDAQ:COIN) has seen its shares surge by over 381% in 2023, outperforming Bitcoin's 161% and Ethereum's 81% gains. ARK Invest, led by Cathie Wood, sold 34,261 COIN shares from its ARKK and ARKW ETFs. Coinbase co-founder Fred Ehrsam also sold 97,836 shares. Despite legal challenges with the SEC, Coinbase reported a 14% revenue increase in Q3 and is expanding globally, including PayPal integration in Germany and the U.K.

Portfolio Pulse from Khyathi Dalal

December 20, 2023 | 10:16 pm

Benzinga's options activity scanner has identified unusual options activity in the Financials sector, highlighting trades in 10 different stocks. The activity includes a mix of bullish, bearish, and neutral sentiments, with varying expiration dates and strike prices. Notable trades were observed in COIN, C, AFRM, WFC, RKT, HOOD, NYCB, BX, SQ, and GGAL, with significant total trade prices and volumes compared to open interest.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 5:35 pm

Ark Invest, led by Cathie Wood, sold shares of Coinbase Global Inc (COIN) and Robinhood Markets Inc (HOOD) amid crypto market volatility. The sales were conducted through ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The firm also bought shares of Zoom Video Communications (ZM) and reduced holdings in UiPath Inc (PATH). These trades reflect Ark's strategy to adapt to market trends, especially in the tech and crypto sectors.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 4:33 am

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