COIN Stock Down 3.3% as Crypto Exchange Misses Q4 Earnings Estimates

Coinbase Global (NASDAQ: COIN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter

Coinbase Global, Inc. (NASDAQ:COIN), a cryptocurrency exchange, saw its stock decrease in value on Friday. The stock's price went down by $9.84 to reach $291.46. Throughout the trading session, 5,485,388 shares of the company were exchanged, in contrast to its typical volume of 8,187,333 shares.

Coinbase Global's performance for the quarter fell short of the $0.41 anticipated by analysts on average, coming in at $0.28. The cryptocurrency exchange's performance also fell short of analysts' projections for revenue, which were $1.26 billion, with an actual revenue of $1.21 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company's revenue increased by 78.8% over the same period last year. The company's EPS for the same quarter the previous year was ($0.01). Sell-side analysts anticipate that Coinbase Global, Inc. will generate 4.81 EPS for the current fiscal year.

The stock of the business was recently sold by several insiders in a related development. A transaction involving the sale of 4,635 shares of the business's stock by insider Lawrence J. Brock was disclosed in a filing with the SEC on Wednesday, November 6th. The shares were sold for an average price of $250.00, resulting in a total transaction value of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares of the company, which are currently valued at $4,631,250. The trade represented a 20.01% decrease in their ownership of the stock. The transaction is highlighted in a document filed with the SEC, which can be found by clicking this hyperlink.

The legal right of corporate insiders to purchase, sell, or trade the securities of their employer company is known as "insider trading." Most insiders must disclose any transaction involving a relevant security within 48 hours of completing the transaction, according to the SEC. A searchable database of recent insider trades is maintained by the SEC, and it can be accessed at this link.

Coinbase Global, Inc. (NASDAQ:COIN) last reported its earnings on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion.

Coinbase Global is a cryptocurrency exchange that provides a platform for trading a variety of digital assets, including Bitcoin, Ethereum, Litecoin, and Dogecoin. The exchange was founded in 2012 and is headquartered in San Francisco, California. Coinbase Global went public in April 2021 through a direct listing on the Nasdaq.

A number of analysts have recently provided their analysis of COIN. The price objective for Coinbase Global was increased by Barclays from $204.00 to $355.00, and the company was given an "equal weight" rating in a research report that was published on Monday, December 9th. The price objective for Coinbase Global was increased by Bank of America from $196.00 to $214.00, and the company was given a "neutral" rating in a research report that was published on Thursday, October 31st. The target price for Coinbase Global was increased by Monness Crespi & Hardt from $245.00 to $390.00, and the stock was given a "buy" rating in a research report that was published on Thursday, December 19th. A research report on Coinbase Global that was published on Wednesday, October 9th by JMP Securities maintained a "market outperform" rating and a price objective of $320.00.

Finally, the price objective for Coinbase Global was decreased by Oppenheimer from $358.00 to $334.00, and the stock was given an "outperform" rating in a research report that was published on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $289.06.

Coinbase Global, Inc. is a company that trades in a multiple of its earnings