Coinbase (COIN)

• Market cap: $64.8B
• 1 day: 0.00%
• 5 days: -7.27%
• 1 month: -14.43%
• 3 months: 57.53%
• 6 months: 17.86%
• Year to date: 0.61%
• 1 year: 71.05%
• 5 years: -21.17%
• 10 years: -21.17%
• Sector: Financials
• Industry: Finance Services

About: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

Employees: 3,416

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

23% more repeat investments, than reductions

Existing positions increased: 321 | Existing positions reduced: 261

8% less call options, than puts

Call options by funds: $5.35B | Put options by funds: $5.79B

3% less funds holding in top 10

Funds holding in top 10: 30 [Q2] → 29 (-1) [Q3]

4.07% less ownership

Funds ownership: 58.25% [Q2] → 54.17% (-4.07%) [Q3]

4% less funds holding

Funds holding: 889 [Q2] → 849 (-40) [Q3]

21% less first-time investments, than exits

New positions opened: 105 | Existing positions closed: 133

24% less capital invested

Capital invested by funds: $25.9B [Q2] → $19.6B (-$6.26B) [Q3]

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $178 31% downside
• Avg. target: $283 9% upside
• High target: $420 62% upside

12 analyst ratings

• positive: 5 42%
• neutral: 6 50%
• negative: 1 8%

Goldman Sachs Will Nance 65% 1-year accuracy 24 / 37 met price target	31% upside $340	Neutral Maintained	10 Jan 2025
Piper Sandler Patrick Moley 82% 1-year accuracy 36 / 44 met price target	10% upside $285	Neutral Maintained	7 Jan 2025
Keefe, Bruyette & Woods Kyle Voigt 79% 1-year accuracy 19 / 24 met price target	6% upside $275	Market Perform Maintained	20 Dec 2024
Barclays Benjamin Budish 75% 1-year accuracy 76 / 102 met price target	37% upside $355	Equal-Weight Maintained	9 Dec 2024
Needham John Todaro 90% 1-year accuracy 54 / 60 met price target	62% upside $420	Buy Maintained	9 Dec 2024