Coinbase Global (COIN) AI Stock Analysis

• Market Cap: $87.00B
• Dividend Yield: N/A
• Average Volume (3M): 9.30M
• Price to Earnings (P/E): 31.0
• Beta (1Y): 2.70
• Revenue Growth: 57.56%
• EPS Growth: 84.56%
• Country: US
• Employees: 3,772
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Data & Stock Exchanges
• EPS (TTM): 5.14
• Shares Outstanding: 215,159,120
• 10 Day Avg. Volume: 8,964,370
• 30 Day Avg. Volume: 9,300,970
• 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: 1.07
• Enterprise Value/Revenue: 13.22
• Enterprise Value/Gross Profit: 17.91
• Enterprise Value/Ebitda: 25.15
• 1Y Price Target: $385.33
• Price Target Upside: 19.39% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 26

• Rating: 68 Neutral
• Price Target: $349.00 ▲(8.13% Upside)

Coinbase's overall score reflects strong financial performance and strategic growth initiatives, particularly in derivatives and stablecoin payments. However, challenges such as declining trading volumes and a recent data breach impact the score. Technical indicators suggest potential bearish momentum, and the high P/E ratio indicates growth expectations but may limit immediate upside.

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. 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 liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.

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 profit margins and effective equity utilization, indicating a growth trajectory. However, volatility in operational efficiency and cash flow growth suggests potential challenges.

Income Statement

Coinbase Global demonstrates strong gross profit and net profit margins in the TTM, with gross profit margin at 76.39% and net profit margin at 40.83%. Revenue growth has been significant in recent periods, indicating a positive trajectory. However, fluctuations in EBIT and EBITDA margins over the years suggest potential volatility in operational efficiency.

Balance Sheet

The balance sheet shows a stable financial structure with a debt-to-equity ratio of 0.37, indicating conservative leverage levels. Return on equity is strong at 23.66%, reflecting effective utilization of equity to generate profits. The equity ratio of 51.53% suggests moderate reliance on equity financing, ensuring financial stability.

Cash Flow

Coinbase exhibits a robust operating cash flow to net income ratio of 0.63, reflecting healthy cash generation relative to earnings. However, free cash flow growth has been inconsistent, with significant variations in recent years, indicating potential challenges in sustaining cash flow growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.01B	6.56B	3.11B	3.19B	7.84B	1.28B
Gross Profit	5.17B	4.91B	1.97B	2.56B	6.10B	1.14B
EBITDA	3.68B	3.15B	145.56M	-2.82B	3.12B	439.91M
Net Income	2.86B	2.58B	94.87M	-2.62B	3.62B	322.32M
Balance Sheet
Total Assets	23.48B	22.54B	14.75B	89.72B	21.27B	5.86B
Cash, Cash Equivalents and Short-Term Investments	9.55B	9.55B	5.53B	5.29B	7.22B	1.11B
Total Debt	4.41B	4.32B	2.99B	3.49B	3.51B	379.08M
Total Liabilities	11.38B	12.27B	8.47B	84.27B	14.89B	4.89B
Stockholders Equity	12.09B	10.28B	6.28B	5.45B	6.38B	963.58M
Cash Flow
Free Cash Flow	1.81B	2.56B	922.95M	-1.59B	3.96B	2.99B
Operating Cash Flow	1.81B	2.56B	922.95M	-1.59B	4.04B	3.00B
Investing Cash Flow	-1.05B	-282.38M	5.39M	-663.82M	-1.12B	50.82M
Financing Cash Flow	549.99M	2.83B	-811.33M	-5.84B	9.98B	18.80M

Coinbase Global Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 322.76
• 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 322.76 is below the 20-day moving average (MA) of 350.10, below the 50-day MA of 329.30, and above the 200-day MA of 279.63, indicating a neutral trend. The MACD of -1.32 indicates Positive momentum. The RSI at 42.29 is Neutral, neither overbought nor oversold. The STOCH value of 19.34 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
CME	77 Outperform	$96.80B	26.03	13.33%	3.98%	5.84%	8.51%
CBOE	73 Outperform	$24.82B	27.81	20.64%	1.10%	18.99%	17.97%
HOOD	73 Outperform	$117.16B	64.62	23.54%	―	58.58%	508.72%
ICE	71 Outperform	$89.84B	30.22	10.89%	1.20%	11.44%	29.10%
SOFI	71 Outperform	$34.08B	54.84	8.80%	―	22.60%	―
COIN	68 Neutral	$87.00B	30.99	27.96%	―	57.56%	84.56%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Coinbase Global Corporate Events

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.

Coinbase Global Completes $3 Billion Convertible Notes Offering

On August 8, 2025, Coinbase Global, Inc. completed a private offering of $3 billion in 0% Convertible Senior Notes due in 2029 and 2032. The proceeds from this offering, approximately $2.957 billion, will be used for general corporate purposes, including potential investments and acquisitions. The issuance of these notes is expected to impact Coinbase’s financial strategy by providing additional capital for growth and operational flexibility.

The most recent analyst rating on (COIN) stock is a Hold with a $264.00 price target. To see the full list of analyst forecasts on Coinbase Global stock, see the COIN Stock Forecast page.

Coinbase Global Announces $2.6 Billion Notes Offering

On August 5, 2025, Coinbase Global announced the pricing of its upsized offering of $2.6 billion in 0% convertible senior notes due in 2029 and 2032. The company plans to use the proceeds for general corporate purposes, including potential investments and acquisitions, and to manage existing debt, which could impact its financial flexibility and market positioning.

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.

Coinbase Announces $2 Billion Convertible Notes Offering

On August 5, 2025, Coinbase Global, Inc. announced its plan to offer $2 billion in convertible senior notes due in 2029 and 2032, subject to market conditions. This private offering is aimed at qualified institutional buyers and includes options for additional purchases. The proceeds are intended for capped call transactions to reduce potential stock dilution and for general corporate purposes, potentially impacting Coinbase’s market position and stakeholder interests.

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.

Coinbase Earnings Call: Strong Growth Amid Challenges

Coinbase’s recent earnings call reflected a generally positive sentiment, underscored by strong financial performance and growth across various business segments. The company reported significant achievements in derivatives and stablecoin payments, which contributed to the optimistic tone. However, challenges such as a decline in trading volume and a major data theft incident slightly tempered the outlook. Despite these hurdles, the overall sentiment remained positive, with strategic expansions and developments taking center stage.

Coinbase Reports Strong Q2 2025 Amid Regulatory Advances

Coinbase Global, Inc. is a leading cryptocurrency exchange platform that offers a wide range of services including trading, custody, and financial services, aiming to build an onchain financial system. In its second quarter of 2025, Coinbase reported solid financial results with total revenue of $1.5 billion, driven by strategic investments and gains in crypto assets, despite a decline in transaction revenue due to lower market volatility. The company achieved significant milestones, including the launch of new derivatives products and the expansion of its Base Chain, while also benefiting from regulatory advancements in the U.S. such as the GENIUS Act. Key financial metrics included a net income of $1.4 billion and an adjusted EBITDA of $512 million, with a notable increase in subscription and services revenue. Looking ahead, Coinbase remains focused on innovation and international expansion, with expectations of continued growth in subscription and services revenue and strategic investments in new product initiatives.