Coinbase Global (COIN) AI Stock Analysis

• Market Cap: $76.58B
• Dividend Yield: N/A
• Average Volume (3M): 9.54M
• Price to Earnings (P/E): 24.6
• Beta (1Y): 2.72
• Revenue Growth: 47.86%
• EPS Growth: 96.46%
• Country: US
• Employees: 3,772
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Data & Stock Exchanges
• EPS (TTM): 1.50
• Shares Outstanding: 228,162,460
• 10 Day Avg. Volume: 10,005,978
• 30 Day Avg. Volume: 9,543,007
• PEG Ratio: <0.01
• Price to Book (P/B): 5.98
• Price to Sales (P/S): 9.36
• P/FCF Ratio: 24.02
• Enterprise Value/Market Cap: 1.21
• Enterprise Value/Revenue: 12.09
• Enterprise Value/Gross Profit: 15.63
• Enterprise Value/Ebitda: 22.52
• 1Y Price Target: $400.63
• Price Target Upside: 41.07% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 21
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $307.00 ▲(8.10% Upside)

Coinbase's strong financial performance and strategic expansion are key strengths, but technical indicators and cash flow challenges weigh on the score. The company's valuation is moderate, and while the earnings call was positive, increased expenses and investment losses are concerns.

Positive Factors

Product Expansion

Coinbase's expansion into decentralized exchanges and derivatives enhances its product offerings, potentially increasing user engagement and revenue.

Regulatory Opportunities

Regulatory clarity can facilitate Coinbase's expansion into new markets and products, providing a stable environment for long-term growth.

Strategic Acquisitions

The acquisition of Echo strengthens Coinbase's position in blockchain-based capital raising, potentially diversifying revenue streams and enhancing market competitiveness.

Negative Factors

Decline in Trading Volume

A significant decline in trading volume can impact Coinbase's primary revenue source, posing a challenge to sustaining growth and profitability.

Data Breach Incident

The data breach not only incurs immediate financial costs but also risks damaging customer trust, potentially affecting long-term user retention and growth.

Cash Flow Volatility

Inconsistent cash flow growth can challenge Coinbase's ability to invest in strategic initiatives and maintain financial flexibility, impacting long-term stability.

Coinbase Global Business Overview & Revenue Model

Company Description

Coinbase Global, Inc. is a leading cryptocurrency technology company headquartered in the United States that operates a digital currency exchange platform. Founded in 2012, the company provides a secure and user-friendly interface for buying, selling, and storing a wide range of cryptocurrencies. Coinbase serves individual consumers, as well as institutional investors, and has expanded its services to include cryptocurrency wallets, advanced trading tools, and an API for developers. The company operates primarily in the fintech sector, focusing on making digital currencies accessible to a broader audience while fostering the growth of the cryptocurrency ecosystem.

How the Company Makes Money

Coinbase generates revenue primarily through transaction fees charged on trades executed on its platform. Users pay a fee for each transaction, which varies depending on the payment method and the size of the transaction. Additionally, Coinbase earns revenue from its subscription services and product offerings, including Coinbase Pro, which caters to professional traders with lower fees and advanced trading features. The company also generates income through staking services, where users can earn rewards for participating in the proof-of-stake networks through Coinbase. Furthermore, Coinbase has established partnerships with various financial institutions and companies to expand its services, which can enhance its revenue streams. Overall, the combination of trading fees, subscription services, and staking rewards constitutes the core of Coinbase's revenue model.

Coinbase Global Financial Statement Overview

Summary

Coinbase Global shows strong revenue growth and profitability with a solid balance sheet. However, the decline in free cash flow growth and increased debt levels are concerns that need addressing to sustain growth.

Income Statement

Coinbase Global has demonstrated strong revenue growth with a 9.47% increase in TTM, indicating a positive trajectory. The company maintains robust profitability metrics with a gross profit margin of 77.35% and a net profit margin of 41.95% in TTM. The EBIT and EBITDA margins are also healthy at 45.16% and 52.73%, respectively. However, there was a dip in EBIT from the previous year, suggesting some operational challenges.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.47, indicating moderate leverage. The return on equity is strong at 26.34%, showcasing effective utilization of equity. The equity ratio stands at 51.12%, suggesting a solid equity base. However, the increase in total debt over the years could pose potential risks if not managed carefully.

Cash Flow

Cash flow analysis reveals a significant decline in free cash flow growth by 81.97% in TTM, which is concerning. The operating cash flow to net income ratio is low at 0.035, indicating potential cash flow challenges. However, the free cash flow to net income ratio remains stable at 1.0, suggesting that the company is still generating sufficient cash relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.67B	6.56B	3.11B	3.19B	7.84B	1.28B
Gross Profit	5.93B	4.91B	1.97B	2.56B	6.10B	1.14B
EBITDA	4.12B	3.15B	145.56M	-2.82B	3.12B	439.91M
Net Income	3.22B	2.58B	94.87M	-2.62B	3.62B	322.32M
Balance Sheet
Total Assets	31.35B	22.54B	14.75B	89.72B	21.27B	5.86B
Cash, Cash Equivalents and Short-Term Investments	12.45B	9.55B	5.53B	5.29B	7.22B	1.11B
Total Debt	7.76B	4.63B	2.99B	3.49B	3.51B	379.08M
Total Liabilities	15.33B	12.27B	8.47B	84.27B	14.89B	4.89B
Stockholders Equity	16.02B	10.28B	6.28B	5.45B	6.38B	963.58M
Cash Flow
Free Cash Flow	325.85M	2.56B	922.95M	-1.59B	3.96B	2.99B
Operating Cash Flow	325.85M	2.56B	922.95M	-1.59B	4.04B	3.00B
Investing Cash Flow	-1.70B	-282.38M	5.39M	-663.82M	-1.12B	50.82M
Financing Cash Flow	4.04B	2.83B	-811.33M	-5.84B	9.98B	18.80M

Coinbase Global Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 284.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COIN, the sentiment is Negative. The current price of 284 is below the 20-day moving average (MA) of 323.60, below the 50-day MA of 333.47, and above the 200-day MA of 282.97, indicating a neutral trend. The MACD of -13.24 indicates Positive momentum. The RSI at 37.30 is Neutral, neither overbought nor oversold. The STOCH value of 19.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COIN.

Coinbase Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CBOE	75 Outperform	$27.03B	27.74	21.51%	1.09%	16.74%	26.74%
CME	74 Outperform	$102.79B	27.63	13.35%	3.87%	5.84%	8.51%
SOFI	73 Outperform	$33.55B	50.44	8.59%	―	22.40%	215.81%
ICE	71 Outperform	$86.71B	27.69	11.32%	1.24%	8.96%	30.16%
HOOD	68 Neutral	$110.15B	50.85	27.82%	―	73.48%	315.24%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
COIN	67 Neutral	$76.58B	24.58	26.00%	―	47.86%	96.46%

Coinbase Global Corporate Events

Coinbase Q3 2025 Earnings Call Highlights Growth Amid Challenges

Coinbase’s latest earnings call reflected a mixed sentiment, showcasing strong financial performance and significant expansion in trading platforms and derivatives. However, concerns were raised due to increased operating expenses, headcount, and unrealized investment losses, alongside infrastructure challenges.

Coinbase Reports Strong Q3 2025 Earnings Growth

Coinbase Global, Inc. is a leading cryptocurrency exchange platform that provides a secure and compliant gateway for users to engage in a variety of crypto-related activities. Operating in the financial technology sector, Coinbase offers services to consumers, institutions, and developers, facilitating transactions and investments in the cryptoeconomy.

Coinbase Registers Shares for Resale with SEC

On August 15, 2025, Coinbase Global, Inc. filed a prospectus supplement to its shelf registration statement with the SEC to register for resale up to 10,997,856 shares of Class A Common Stock by selling stockholders. This action is part of fulfilling registration rights under a Share Purchase Agreement with Sentillia B.V. and its shareholders, potentially impacting the company’s stock liquidity and market dynamics.

The most recent analyst rating on (COIN) stock is a Hold with a $196.00 price target. To see the full list of analyst forecasts on Coinbase Global stock, see the COIN Stock Forecast page.