Coinbase (COIN)

• Market cap: $59.8B
• 1 day: -8.27%
• 5 days: -18.28%
• 1 month: -19.99%
• 3 months: -20.27%
• 6 months: 14.13%
• Year to date: -8.49%
• 1 year: 44.93%
• 5 years: -28.30%
• 10 years: -28.30%
• 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: 3,772

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

186% more first-time investments, than exits

New positions opened: 243 | Existing positions closed: 85

55% more capital invested

Capital invested by funds: $19.6B [Q3] → $30.5B (+$10.9B) [Q4]

42% more repeat investments, than reductions

Existing positions increased: 350 | Existing positions reduced: 247

12% more funds holding

Funds holding: 854 [Q3] → 955 (+101) [Q4]

10% more funds holding in top 10

Funds holding in top 10: 29 [Q3] → 32 (+3) [Q4]

5.11% more ownership

Funds ownership: 54.2% [Q3] → 59.32% (+5.11%) [Q4]

7% more call options, than puts

Call options by funds: $10.9B | Put options by funds: $10.2B

Research analyst outlook

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

• Low target: $280 19% upside
• Avg. target: $345 47% upside
• High target: $475 102% upside

10 analyst ratings

• positive: 5 50%
• neutral: 5 50%
• negative: 0 0%

HC Wainwright & Co. Mike Colonnese 49% 1-year accuracy 33 / 67 met price target	49% upside $350	Buy Reiterated	21 Feb 2025
Mizuho Dan Dolev 80% 1-year accuracy 32 / 40 met price target	19% upside $280	Neutral Maintained	20 Feb 2025
Keefe, Bruyette & Woods Kyle Voigt 71% 1-year accuracy 22 / 31 met price target	30% upside $305	Market Perform Maintained	18 Feb 2025
JMP Securities Devin Ryan 87% 1-year accuracy 59 / 68 met price target	102% upside $475	Market Outperform Maintained	14 Feb 2025
Canaccord Genuity Joseph Vafi 62% 1-year accuracy 54 / 87 met price target	70% upside $400	Buy Maintained	14 Feb 2025