Coinbase (COIN)

• Market cap: $61.8B
• 1 day: 0.69%
• 5 days: -5.07%
• 1 month: -5.52%
• 3 months: 36.75%
• 6 months: -21.85%
• Year to date: -5.64%
• 1 year: -1.99%
• 5 years: -26.07%
• 10 years: -26.07%
• Sector: Financials
• Industry: Financial Data & Stock Exchanges

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: 3,772

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

69% more repeat investments, than reductions

Existing positions increased: 418 | Existing positions reduced: 248

2% less call options, than puts

Call options by funds: $7.05B | Put options by funds: $7.2B

6% less first-time investments, than exits

New positions opened: 155 | Existing positions closed: 165

4% less funds holding

Funds holding: 1,006 [Q4 2024] → 968 (-38) [Q1 2025]

5.2% less ownership

Funds ownership: 58.81% [Q4 2024] → 53.61% (-5.2%) [Q1 2025]

12% less funds holding in top 10

Funds holding in top 10: 33 [Q4 2024] → 29 (-4) [Q1 2025]

36% less capital invested

Capital invested by funds: $30.2B [Q4 2024] → $19.4B (-$10.8B) [Q1 2025]

Research analyst outlook

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

• Low target: $190 22% downside
• Avg. target: $273 13% upside
• High target: $400 65% upside

15 analyst ratings

• positive: 9 60%
• neutral: 6 40%
• negative: 0 0%

Jefferies Trevor Williams	7% upside $260	Hold Maintained	27 May 2025
Benchmark Mark Palmer	24% upside $301	Buy Maintained	16 May 2025
Goldman Sachs James Yaro	2% downside $239	Neutral Maintained	15 May 2025
Rosenblatt Chris Brendler	24% upside $300	Buy Maintained	14 May 2025
Oppenheimer Owen Lau	21% upside $293	Outperform Maintained	13 May 2025