Q1 2024 Earnings Forecast for Coinbase Global, Inc. Issued By HC Wainwright (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) – Analysts at HC Wainwright boosted their Q1 2024 earnings per share (EPS) estimates for shares of Coinbase Global in a research report issued on Monday, April 29th. HC Wainwright analyst M. Colonnese now forecasts that the cryptocurrency exchange will post earnings of $1.19 per share for the quarter, up from their previous estimate of $0.46. HC Wainwright has a “Buy” rating and a $300.00 price objective on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $2.60 per share. HC Wainwright also issued estimates for Coinbase Global’s Q4 2024 earnings at $1.19 EPS and FY2024 earnings at $3.99 EPS.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the prior year, the company earned ($2.46) EPS. Coinbase Global’s quarterly revenue was up 51.6% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the company. Bank of America increased their price target on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Wedbush raised their price objective on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Citigroup increased their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $167.81.

Coinbase Global Stock Up 8.9 %

NASDAQ:COIN opened at $228.85 on Wednesday. The firm has a market capitalization of $55.44 billion, a P/E ratio of 845.07 and a beta of 3.46. The company’s fifty day moving average price is $234.06 and its 200-day moving average price is $164.32. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the sale, the director now owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 420,597 shares of company stock worth $86,053,862. Insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fountainhead AM LLC grew its position in shares of Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after buying an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Coinbase Global by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after buying an additional 81 shares during the period. Nilsine Partners LLC lifted its stake in Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after buying an additional 81 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.