Coinbase Global (COIN)
NASDAQ:COIN
Want to see COIN full AI Analyst Report?
Top Page
Coinbase Global
(NASDAQ:COIN)
Select Model
Select Model
Rating:63Neutral
Price Target:
$216.00
▲(4.69% Upside)
Action:ReiteratedDate:05/05/26
The score is driven primarily by improved financial performance and strong recent cash generation, supported by constructive (but not strong) technical momentum. These positives are tempered by weak valuation signals (negative P/E), earnings volatility and near-term pressure noted in guidance, and a recent restructuring announcement.
Positive Factors
Strong free cash flow generation
Sustained positive operating and free cash flow across 2024–2025 provides durable internal funding for investments, buybacks and strategic M&A. Reliable cash generation improves financial flexibility to weather crypto cycles and supports capital allocation without reliance on external financing.
Negative Factors
Revenue and margin cyclicality
Significant sensitivity of top‑line and margins to crypto market conditions creates persistent earnings volatility. Cyclical revenue and sharp margin compression risk undermine predictability of profits and complicate multi‑period planning and return targets for investors and management.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Sustained positive operating and free cash flow across 2024–2025 provides durable internal funding for investments, buybacks and strategic M&A. Reliable cash generation improves financial flexibility to weather crypto cycles and supports capital allocation without reliance on external financing.
Read all positive factors
Coinbase Global (COIN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$53.60B
Dividend YieldN/A
Average Volume (3M)10.66M
Price to Earnings (P/E)―
Beta (1Y)2.76
Revenue Growth-0.75%
EPS Growth-51.86%
CountryUS
Employees4,951
SectorFinancial
Sector Strength70
IndustryFinancial - Data & Stock Exchanges
Share Statistics
EPS (TTM)5.02
Shares Outstanding223,041,280
10 Day Avg. Volume10,031,356
30 Day Avg. Volume10,661,409
Financial Highlights & Ratios
PEG Ratio-0.87
Price to Book (P/B)3.98
Price to Sales (P/S)8.19
P/FCF Ratio24.24
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue7.59
Enterprise Value/Gross Profit9.84
Enterprise Value/Ebitda27.49
Forecast
1Y Price Target
$260.25Price Target Upside26.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering23
EPS Forecast (FY)2.88
Revenue Forecast (FY)$6.90B
Coinbase Global Business Overview & Revenue Model
Company Description
Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidi...
How the Company Makes Money
Coinbase primarily makes money through transaction-based fees and spread on crypto trading executed on its platform, especially from retail customers; these fees are typically charged as a percentage of the trade and/or via a quoted spread between...
Coinbase Global Key Performance Indicators (KPIs)
Any
Trading Volume
Measures the total amount of cryptocurrency traded on the platform, indicating user engagement, market activity, and Coinbase's ability to generate transaction fees.
Measures the total amount of cryptocurrency traded on the platform, indicating user engagement, market activity, and Coinbase's ability to generate transaction fees.
Data provided by:
The Fly
The FlyCoinbase Global Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong multi-year progress: diversified revenue growth (2025 revenue +9% YoY; subscription & services +23% YoY), sustained adjusted profitability, custody leadership (stores ~12% of global crypto), successful product launches (Everything Exchange, derivatives, Base, prediction markets), meaningful M&A, and a robust balance sheet ($11.3B cash / ~$14.1B total resources) with active buybacks and BTC accumulation. Near-term challenges include quarter-over-quarter revenue declines (Q4 revenue -5% QoQ; transaction revenue -6% QoQ), a Q4 GAAP net loss driven by large unrealized investment and strategic losses, rising operating expenses tied to M&A and USDC rewards, and a brief technical outage. Management presented confidence in long-term opportunities (stablecoins, Everything Exchange, Base) and plans to be opportunistic with capital allocation, suggesting the positives outweigh current market-driven and tactical headwinds.Positive Updates
Full-Year Revenue Growth
Total revenue for 2025 was $7.2 billion, a 9% year-over-year increase, demonstrating top-line expansion despite macro headwinds.
Negative Updates
Quarterly Revenue and Transaction Slowdown
Q4 total revenue declined to $1.8 billion, down 5% quarter-over-quarter. Q4 transaction revenue was $983 million, down 6% quarter-over-quarter, and subscription & services revenue was $727 million, down 3% quarter-over-quarter, reflecting softer market conditions (crypto market cap down ~11% QoQ).
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue Growth
Total revenue for 2025 was $7.2 billion, a 9% year-over-year increase, demonstrating top-line expansion despite macro headwinds.
Read all positive updates
Company Guidance
Coinbase’s guidance for Q1 called for subscription and services revenue of $550–$630 million and noted roughly $420 million of transaction revenue through Feb. 10; expense guidance was flat QoQ with Technology & Development plus G&A at $925–$975 million and Sales & Marketing at $215–$315 million. Management reiterated ongoing weekly Bitcoin purchases, opportunistic buybacks (have repurchased $1.7 billion / 8.2 million shares to fully offset 2025 stock‑comp dilution and secured an $815 million notional discount, and the Board approved an additional $2 billion authorization), emphasized strong liquidity ($11.3 billion cash and ~$14.1 billion total available resources including crypto assets), and pointed to continued strength (12 consecutive quarters of adjusted EBITDA profitability) alongside recent Q4 metrics: $1.8 billion total revenue, $983 million transaction revenue, $727 million subscription & services, $566 million adjusted EBITDA and a GAAP net loss of $667 million.Coinbase Global Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
71
Positive
Cash Flow
76
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.18B | 6.56B | 3.11B | 3.19B | 7.84B |
| Gross Profit | 5.36B | 4.91B | 1.97B | 2.56B | 6.10B |
| EBITDA | 1.80B | 3.15B | 145.56M | -2.82B | 3.12B |
| Net Income | 1.26B | 2.58B | 94.87M | -2.62B | 3.62B |
Balance Sheet | |||||
| Total Assets | 29.67B | 22.54B | 14.75B | 89.72B | 21.27B |
| Cash, Cash Equivalents and Short-Term Investments | 11.91B | 9.55B | 5.53B | 5.29B | 7.22B |
| Total Debt | 7.83B | 4.63B | 2.99B | 3.49B | 3.51B |
| Total Liabilities | 14.88B | 12.27B | 8.47B | 84.27B | 14.89B |
| Stockholders Equity | 14.79B | 10.28B | 6.28B | 5.45B | 6.38B |
Cash Flow | |||||
| Free Cash Flow | 2.43B | 2.56B | 922.95M | -1.59B | 3.96B |
| Operating Cash Flow | 2.43B | 2.56B | 922.95M | -1.59B | 4.04B |
| Investing Cash Flow | -2.05B | -282.38M | 5.39M | -663.82M | -1.12B |
| Financing Cash Flow | 740.28M | 2.83B | -811.33M | -5.84B | 9.98B |
Coinbase Global Technical Analysis
Neutral
206.33
Price Trends
180.19
Positive
210.59
Negative
273.05
Negative
Market Momentum
1.59
Negative
64.28
Neutral
92.64
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COIN, the sentiment is Neutral. The current price of 206.33 is above the 20-day moving average (MA) of 179.88, above the 50-day MA of 180.19, and below the 200-day MA of 273.05, indicating a neutral trend. The MACD of 1.59 indicates Negative momentum. The RSI at 64.28 is Neutral, neither overbought nor oversold. The STOCH value of 92.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COIN.
Coinbase Global Risk Analysis
Coinbase Global disclosed 84 risk factors in its most recent earnings report. Coinbase Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coinbase Global Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $35.47B | 19.07 | 24.63% | 1.06% | 10.61% | 53.46% | |
78 Outperform | $105.19B | 22.98 | 15.25% | 3.92% | 7.54% | 18.50% | |
70 Outperform | $3.09B | 11.08 | 17.30% | ― | 10.08% | 7.80% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $20.66B | 30.39 | 6.25% | ― | 32.00% | 10.31% | |
65 Neutral | $68.99B | 44.51 | 21.34% | ― | 41.76% | 17.91% | |
63 Neutral | $53.60B | -22.75 | 9.44% | ― | -0.75% | -51.86% |
* Financial Sector Average
COIN
Coinbase Global
202.99
6.43
3.27%
CBOE
Cboe Global Markets
338.91
107.27
46.31%
CME
CME Group
290.29
15.97
5.82%
SOFI
SoFi
16.20
3.19
24.52%
HOOD
Robinhood
76.55
26.56
53.13%
ETOR
eToro
38.31
-28.54
-42.69%
Coinbase Global Corporate Events
Business Operations and Strategy
Coinbase Announces Major Workforce Reduction and Restructuring Plan
Negative
May 5, 2026
On May 5, 2026, Coinbase Global, Inc. announced a restructuring plan aimed at managing operating expenses in response to current market conditions and optimizing its operations for the emerging AI era. The plan includes cutting about 700 jobs, or ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.