What is B. Riley’s Estimate for Coinbase Global Q3 Earnings?

Coinbase Global, Inc. (NASDAQ:COIN) – Analysts at B. Riley issued their Q3 2024 earnings estimates for Coinbase Global in a report released on Tuesday, October 22nd. B. Riley analyst H. Goetsch anticipates that the cryptocurrency exchange will post earnings of $0.70 per share for the quarter. B. Riley currently has a “Hold” rating on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $3.92 per share. B. Riley also issued estimates for Coinbase Global’s Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $4.98 EPS and FY2025 earnings at $3.71 EPS.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm earned ($0.42) EPS. Coinbase Global’s quarterly revenue was up 104.8% compared to the same quarter last year.

Several other equities research analysts have also commented on COIN. Compass Point dropped their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America dropped their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $242.82.

Coinbase Global Trading Up 5.1 %

NASDAQ:COIN opened at $209.16 on Friday. Coinbase Global has a one year low of $70.42 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day simple moving average is $181.15 and its 200 day simple moving average is $210.59. The firm has a market capitalization of $51.36 billion, a P/E ratio of 41.75 and a beta of 3.35.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,187 shares of company stock worth $13,158,294 over the last quarter. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. increased its holdings in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd purchased a new stake in shares of Coinbase Global in the first quarter worth $108,434,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

About Coinbase Global

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.