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

Goldman Sachs analyst Will Nance has maintained a Sell rating on Coinbase Global (NASDAQ:COIN) but increased the price target from $55 to $123.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:33 pm

Cathie Wood's Ark Invest has purchased over $27 million worth of Palantir Technologies Inc (PLTR) shares, demonstrating confidence in the data analytics company despite its recent stock decline. The shares were bought through ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF). Additionally, Ark Invest increased its stake in Toast Inc (TOST) and reduced its holdings in Coinbase Global Inc (COIN) and UiPath Inc (PATH).

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 6:34 am

Coinbase (NASDAQ:COIN) and Marathon Digital (NASDAQ:MARA) stocks have seen significant increases following the rise in Bitcoin's value, with COIN up 74% in the past month and MARA up 2.83% on a recent Tuesday. When Bitcoin reached $42,000, COIN and MARA stocks rose 5.48% and 8.47%, respectively, from December 1 to December 4. The correlation between COIN and MARA stocks is very high, with a coefficient of determination (R^2) of 1.0.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 11:00 am

Coinbase Inc (NASDAQ:COIN) has introduced a new service that allows users to send cryptocurrencies like Bitcoin and Ethereum through various communication platforms such as WhatsApp, Telegram, TikTok, and social media apps with a simple link. This service simplifies the process of transferring cryptocurrencies, which previously involved logging into an exchange and waiting for confirmations. The funds can be claimed through the Coinbase Wallet app, and if unclaimed after two weeks, they are returned to the sender. Coinbase's stock has surged almost 290% this year, despite a slight drop of 0.63% on Tuesday.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 3:54 am

Ark Invest, led by Cathie Wood, sold over $33 million in Coinbase Global Inc (COIN) shares and nearly $5.6 million in Grayscale Bitcoin Trust (GBTC) shares as Bitcoin crossed the $44,000 mark. The sales were made through various Ark ETFs including ARKK, ARKW, and ARKF. Additionally, Ark Invest increased its holdings in SoFi Technologies (SOFI), Toast Inc (TOST), Veeva Systems (VEEV), Teladoc (TDOC), and The Trade Desk (TTD).

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 3:22 am

On Tuesday, U.S. stocks showed mixed results with the Nasdaq Composite rising and the Dow falling. MongoDB, NIO, Coinbase, Asana, and Riot Blockchain were among the top stocks gaining investor interest. MongoDB reported a 30% increase in Q3 revenue, NIO saw a surge in EV deliveries, Coinbase received a raised price target from Needham, Asana reported a narrower quarterly loss with increased sales, and Riot Blockchain benefited from Bitcoin's price rally.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 1:49 am

Cryptocurrency companies have spent $18.96 million on lobbying US lawmakers as of the end of Q3 2023, surpassing last year's $16.1 million. Coinbase Global Inc (COIN) leads with $2.16 million spent. The sector is likely to set a new record in 2023. Increased lobbying follows lawsuits from the SEC, with Coinbase and Binance facing actions for not registering tokens. The industry seeks to influence legislation, with two major bills approved by a congressional committee. FTX, now bankrupt, was among the top spenders in 2022.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 7:59 pm

Dogecoin (CRYPTO: DOGE), a cryptocurrency that began as a joke, celebrates its 10th anniversary. Created by Jackson Palmer and Billy Markus, Dogecoin was based on the Doge meme and has seen significant returns for early investors. It gained popularity with support from Elon Musk and was added to trading platforms like Coinbase Global (NASDAQ:COIN). Conagra Brands (NYSE:CAG) mentioned Dogecoin in relation to its Slim Jim brand, and AMC Entertainment Holdings (NYSE:AMC) announced it would accept Dogecoin as payment. The future of Dogecoin may involve more retailers accepting it as payment, with McDonald's (NYSE:MCD) being a potential target for Dogecoin investors.

Portfolio Pulse from Chris Katje

December 05, 2023 | 6:23 pm

Bitcoin (BTC/USD) soared to $43K on Tuesday, continuing its upward trend after crossing $40,000 over the weekend. The rally is partly driven by expectations of a U.S. SEC approval for a Bitcoin ETF. Crypto-linked stocks like Coinbase (COIN), CleanSpark (CLSK), Marathon Digital Holdings (MARA), Riot Platforms (RIOT), and HIVE Digital Technologies (HIVE) are surging in response. Coinbase's CEO Brian Armstrong highlighted Bitcoin's potential role in strengthening Western civilization and the U.S. dollar.

Portfolio Pulse from Lekha Gupta

December 05, 2023 | 6:22 pm

Coinbase shares (COIN) are experiencing an uptick due to a surge in Bitcoin prices, positively affecting crypto-related stocks. Needham has also increased its price target for Coinbase from $120 to $160, further boosting investor confidence.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 5:17 pm

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