Coinbase Global (COIN) AI Stock Analysis

• Market Cap: $98.59B
• Dividend Yield: N/A
• Average Volume (3M): 13.73M
• Price to Earnings (P/E): 72.5
• Beta (1Y): 2.79
• Revenue Growth: 48.30%
• EPS Growth: 5.09%
• Country: US
• Employees: 3,772
• Sector: Financial
• Sector Strength: 79
• Industry: Financial - Data & Stock Exchanges
• EPS (TTM): 0.24
• Shares Outstanding: 211,407,410
• 10 Day Avg. Volume: 10,835,210
• 30 Day Avg. Volume: 13,726,204
• PEG Ratio: 0.02
• Price to Book (P/B): 1.44
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.77
• Enterprise Value/Market Cap: 0.07
• Enterprise Value/Revenue: 0.31
• Enterprise Value/Gross Profit: 1.23
• Enterprise Value/Ebitda: 0.86
• 1Y Price Target: $313.14
• Price Target Upside: -19.10% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 25

• Rating: 72 Outperform
• Price Target: $383.00 ▼(-1.05%Downside)

Coinbase's strong financial performance and strategic acquisitions, such as Deribit, position it well for growth. However, its high P/E ratio and overbought technical indicators suggest caution. The company's focus on international expansion and diversification efforts are positive, but potential macroeconomic impacts and declining transaction revenue remain concerns.

Positive Factors

Market Positioning

Coinbase is well positioned to benefit from the enactment of the crypto market structure bill, which could provide much-needed regulatory certainty for digital assets in the U.S.

New Revenue Streams

The introduction of Coinbase Payments for USDC stablecoin transactions represents a new, scalable revenue stream that could help diversify beyond crypto trading volumes.

Regulatory Developments

The recent regulatory development and Circle IPO have boosted investor sentiment on stablecoin business outlook and valuation.

Negative Factors

Earnings Estimates

Analyst anticipates a slew of downward estimate revisions in the coming weeks.

Trading Volume Decline

The stock is trading at high multiples during a period of rapidly declining crypto trading volumes, suggesting an opportune time for investors to take profits.

Valuation Concerns

Shares are being downgraded to a Sell rating due to valuation concerns, as the stock's recent rally is seen as overdone compared to its fundamentals.

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 primarily generates revenue through transaction fees charged on its trading platform. These fees are applied when users buy, sell, or trade cryptocurrencies on the exchange. The company offers different fee structures for retail and institutional clients, with professional traders often enjoying lower rates due to higher trading volumes. Additionally, Coinbase earns money from subscription services, such as Coinbase Pro and Coinbase One, which offer advanced trading features and reduced fees. The company also gains revenue from interest on customer custodial funds and by providing a range of institutional services, including custody and staking options. Partnerships with financial institutions and strategic investments in blockchain technology companies further contribute to Coinbase's earnings.

Coinbase Global Financial Statement Overview

Summary

Coinbase Global is on a solid financial footing, with robust revenue growth and efficient cash flow management. While profitability metrics exhibit some volatility, the company's resilience and strategic financial management are evident. Continued focus on maintaining stable leverage and improving profit margins could further enhance financial health.

Income Statement

Coinbase Global has demonstrated strong revenue growth in recent years, with a notable recovery from the revenue dip in 2022. The gross profit margin is robust, indicating effective cost management. However, there is volatility in net profit margin, primarily due to fluctuations in net income, which poses a potential risk.

Balance Sheet

The debt-to-equity ratio remains manageable, suggesting a balanced approach to leveraging. The return on equity has improved significantly, reflecting enhanced profitability. The equity ratio indicates a strong capital structure, although the high liabilities in 2023 imply potential leverage risks.

Cash Flow

Cash flow from operations is consistently strong, with impressive free cash flow generation, enhancing financial flexibility. The operating cash flow to net income ratio is stable, indicating efficient cash management practices. Overall, cash flow metrics show a positive trajectory, supporting growth initiatives.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.81B	6.56B	3.11B	3.19B	7.84B	1.28B
Gross Profit	5.63B	5.65B	2.69B	2.56B	6.57B	1.14B
EBITDA	1.81B	3.12B	25.21M	-2.82B	3.14B	464.93M
Net Income	1.47B	2.58B	94.87M	-2.62B	3.62B	322.32M
Balance Sheet
Total Assets	21.73B	22.54B	14.75B	89.72B	21.27B	5.86B
Cash, Cash Equivalents and Short-Term Investments	10.15B	9.55B	5.53B	5.29B	7.22B	1.11B
Total Debt	4.32B	4.32B	2.99B	3.49B	3.51B	379.08M
Total Liabilities	11.26B	12.27B	8.47B	84.27B	14.89B	4.89B
Stockholders Equity	10.47B	10.28B	6.28B	5.45B	6.38B	963.58M
Cash Flow
Free Cash Flow	1.96B	2.56B	922.95M	-1.59B	3.96B	2.99B
Operating Cash Flow	1.96B	2.56B	922.95M	-1.59B	4.04B	3.00B
Investing Cash Flow	-388.36M	-282.38M	5.39M	-663.82M	-1.12B	50.82M
Financing Cash Flow	7.40M	2.83B	-811.33M	-5.84B	9.98B	18.80M

Coinbase Global Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 387.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COIN, the sentiment is Positive. The current price of 387.06 is above the 20-day moving average (MA) of 337.50, above the 50-day MA of 279.79, and above the 200-day MA of 247.29, indicating a bullish trend. The MACD of 32.62 indicates Negative momentum. The RSI at 74.33 is Negative, neither overbought nor oversold. The STOCH value of 92.98 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COIN.

Coinbase Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COIN	72 Outperform	$98.59B	72.53	15.83%	―	48.30%	5.09%
Sector *	64 Neutral	$6.52B	11.01	7.19%	5.07%	23.85%	5.18%
SPT	64 Neutral	$1.10B	―	-36.95%	―	17.79%	16.49%
GRAB	64 Neutral	$20.37B	892.86	0.38%	―	17.24%	―
RIOT	60 Neutral	$4.44B	24.36	-14.71%	―	59.99%	-283.24%
GRND	60 Neutral	$4.15B	―	-63.52%	―	30.08%	-196.62%
MSTR	58 Neutral	$118.82B	―	-29.68%	0.08%	-6.19%	-3736.55%

Coinbase Global Corporate Events

Coinbase Global Holds Annual Stockholders Meeting

On June 18, 2025, Coinbase Global, Inc. held its annual meeting of stockholders where three key proposals were voted on. The stockholders elected ten directors to serve until the 2026 meeting, ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2025, and approved the compensation for the company’s executive officers. These decisions reflect the company’s ongoing governance and operational strategies, potentially impacting its market positioning and stakeholder relations.

The most recent analyst rating on (COIN) stock is a Hold with a $181.00 price target. To see the full list of analyst forecasts on Coinbase Global stock, see the COIN Stock Forecast page.

Coinbase Acquires Deribit in Major Cryptocurrency Deal

On May 8, 2025, Coinbase Global, Inc. entered into a Share Purchase Agreement to acquire all outstanding shares of Deribit, a Netherlands-based company, for $700 million in cash and nearly 11 million shares of Coinbase’s Class A common stock. This acquisition, pending regulatory approvals and other conditions, aims to strengthen Coinbase’s market position and expand its offerings in the cryptocurrency space, with significant implications for stakeholders, including a lock-up arrangement for certain Deribit shareholders and a potential $100 million termination fee if regulatory approvals are not obtained by November 8, 2025.