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Coinbase Global Inc. NASDAQ
Open: $275.5 High: $279.29 Low: $250.51 Close: $256.75
Range: 2021-05-06 - 2021-05-07
Volume: 8,422,907
Market: Closed
Powered by Finage Stock APIDelayed data
Coinbase Global Inc. 548 Market Street Suite 23008 San Francisco, CA 94104 United States
Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols. It serves retail users, institutions, and ecosystem partners. The company was founded in 2012 and is based in San Francisco, California.
  • CEO: Mr. Brian Armstrong
  • Employees: 1,249
  • Sector: Technology
  • Industry: Software - Application
Latest news about the COIN
  • Cryptocurrency Exchanges Need Direct Regulation, SEC Chair Says

    The head of the SEC says Congress needs to create a regulatory framework to oversee cryptocurrency exchanges in the U.S.

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  • Coinbase Announces New Q&A Platform for Shareholders Ahead of First Quarter 2021 Earnings Release

    Coinbase Announces New Q&A Platform for Shareholders Ahead of First Quarter 2021 Earnings Release

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  • Is Coinbase Stock A Buy Right Now As Bitcoin Rebounds And Ethereum Hits Record Highs?

    Cryptocurrency exchange Coinbase debuted on April 14, but is sharply off its post-IPO highs. Is Coinbase stock a buy or sell in the current stock market rally?

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  • Coinbase Plunges to All-Time Low With IPO ETF in Freefall

    (Bloomberg) -- Coinbase Global Inc. sank to a record low as investors fled high-flying market newcomers.The operator of the largest U.S. cryptocurrency exchange tumbled as much as 7% to $254.02 on Thursday, slumping for a fourth straight day. That left the shares in danger of breaching the $250 reference price for its April direct listing. An exchange-traded fund that tracks shares of companies that recently went public plunged for an eighth day, the longest slide since 2015. Virgin Galactic Holdings Inc. and Opendoor Technologies Inc., companies that came to market through blank-check offerings, sank more than 5%.“We saw a mini-bubble in SPACs, IPOs, crypto, clean-tech and hyper-growth in late 2020 and early 2021 and many of these asset classes are nursing bad hangovers,” said Mike Bailey, director of research at FBB Capital Partners.Coinbase’s slide comes as investors pour into extremely speculative cryptocurrencies such as Dogecoin and Binance Coin -- tokens that the exchange doesn’t offer. Most of its traffic had come from Bitcoin trades, but the price of the largest crypto coin has been mired in a narrow band for weeks. Coinbase started trading at $381 on April 14 before briefly topping $400. It’s now down 22% from the close on its first day.Nasdaq had set a reference price of $250 a share on April 13 for Coinbase’s direct listing, a number that’s a requirement for the stock to begin trading, but not a direct indicator of the company’s potential market capitalization.“What has really hurt Coinbase, now that their direct listing has taken off, you’re seeing expectations that other exchanges are coming on board,” said Edward Moya, senior market analyst at Oanda. “There’s this belief this could be as good as it gets for Coinbase in the short-term.”The Renaissance IPO ETF dropped as much as 4.9% on Thursday, bringing its year-to-date loss to about 21%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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  • Coinbase Continues Slide as Investors Question Valuation

    Coinbase has continued to drop. It trades at 174 times earnings, 44 times sales, 19 times cash flow and 36 times book value, according to Morningstar.

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  • 10 Best Robinhood Stocks to Buy Right Now

    In this article, we will take a look at the 10 best Robinhood stocks to buy right now. You can skip our comprehensive analysis of these stocks and go directly to the 5 Best Robinhood Stocks to Buy Right Now. Social media speculation and meme stock rallies have stoked market volatility in the past few […]

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  • Coinbase and 45 Other Companies Debuted in April, but SPAC IPOs Fell to a Trickle

    The month produced 45 traditional IPOs, raising $15.3 billion. But only 13 special purpose acquisition deals went public, collecting $3 billion.

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  • 5 Robinhood Stocks to Avoid Like the Plague in May

    For more than a year, retail investors have been piling into the stock market. The average age of Robinhood users is only 31. On the other hand, many of Robinhood's retail investors lack a long-term mindset.

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  • Global Payments CEO: Real estate digital trends are in Zego’s and Global Payments' favor

    Jeff Sloan, Global Payments CEO,  joins Yahoo Finance’s Alexis Christoforous and Kristin Myers to discuss the company’s earnings and acquisition of real estate software company Zego.

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  • Coinbase Stock May Be Stuck in a Rut Because Crypto Competition Is Heating Up

    The exchange's challenge is to protect its commissions as other trading platforms---namely PayPal and Square---go after the same retail market.

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  • Sotheby's to accept bitcoin, ethereum for Banksy auction

    Bidding for the work is estimated at $3 million to $5 million, Sotheby's said, with the buyer having the option to pay with cryptocurrency. The auction house has tied up with cryptocurrency exchange Coinbase Global Inc for the sale. Coinbase said in a blog it would help manage price fluctuations during the auction in New York next week.

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  • Coinbase Slips on Mizuho Concern Over Reliance on Commissions

    Coinbase gets a price target hike from Mizuho Securities, but an analyst is concerned about the company's 'medium-term prospects.'

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  • Coinbase stock price target raised at Mizuho, but analyst still 'skeptical' about prospects

    Shares of Coinbase Global Inc. fell 1.2% in premarket trading Tuesday, to extend its recent weakness, as Mizuho analyst Dan Dolev raised his price target but said he remained "skeptical" about the cryptocurrency trading platform's medium-term prospects given heavy reliance on retail commissions. Dolev raised his price target to $315 from $285, but kept his rating at neutral. "Over time, COIN's fees may face downward pressure from competing platforms following the footsteps of zero-commission stock trading," Dolev wrote in a note to clients. "This is because platforms like PayPal and Cash App primarily use crypto trading as engagement tools." Dolev noted that retail trading commissions represent 80% of sales. The stock, which went public on April 14 through a direct listing, has declined on 10 of the 13 trading sessions since then through Monday, to close Monday 10.3% below the April 14 closing price of $328.28. Over the same time, bitcoin had declined 8.8% and the S&P 500 had gained 1.6%.

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  • There’s a ‘big problem brewing’ in cryptocurrency space: Kevin O'Leary

    Kevin O'Leary, Shark Tank Investor and Chairman of O'Shares ETFs,  joins Yahoo Finance’s Alexis Christoforous to discuss an outlook on cryptocurrency and his take on Biden’s first 100 days in office.

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  • 3 Stocks to Avoid This Week

    Six Flags Entertainment took a roller coaster-sized 3.5% dip on the week after posting financial results. Finally we have MicroStrategy as the big winner of the three stocks, rising 7% for the week. MicroStrategy's become a popular coattail play for Bitcoin (CRYPTO: BTC).

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  • Ether Hits $3,000 as Bitcoin’s Crypto Dominance Declines

    (Bloomberg) -- Bitcoin’s domination of total cryptocurrency market value is declining as its next-biggest rival Ether reaches the $3,000 milestone.The rise of Ether suggests there’s room for more than one winner among digital tokens as the sector evolves. Bitcoin now accounts for about 46% of total crypto market value, down from roughly 70% at the start of the year, and Ether makes up 15%, according to tracker CoinGecko. Bitcoin remains the biggest cryptocurrency but the momentum in other tokens is drawing increasing interest. Proponents argue investors are getting more comfortable with a variety of tokens, while critics contend the sector may be in the grip of a stimulus-fueled mania.Cryptocurrencies were broadly higher on Monday. Bitcoin climbed above $58,000, while Ether jumped 6% to $3,151 as of 8:17 a.m. in New York.“Ethereum is rising and not much seems to be in its way,” Edward Moya, a senior market analyst at Oanda Corp., wrote in a note Friday, adding that other tokens were also seeing “fresh interest.”The current distribution of market share also reflects an April shakeout in the cryptocurrency sector. Bitcoin has yet to recover all the ground it lost after tumbling from a mid-April record of almost $64,870.Last month’s listing of crypto exchange Coinbase Global Inc. in the U.S. is the latest sign of how more investors are embracing the sector despite risks from high levels of volatility and expanding regulatory scrutiny.Ether is currently occupying the limelight. An upgrade of the affiliated Ethereum blockchain as well as the network’s popularity for financial services and cryptocollectibles are among the factors cited for the rally. Evercore ISI strategist Rich Ross has set a target of $3,900 for the token.Other cryptocurrencies have jumped too. The price of Binance Coin is up 3,460% over the past 12 months, according to CoinGecko. Dogecoin, a token started as a joke in 2013 but now a social-media favorite touted by the likes of Elon Musk, has surged 15,000% to a market value of around $50 billion.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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  • Strong Cryptocurrency Growth Could Translate To Big Gains For Coinbase

    As has been the case for all recent cryptocurrency-related events, the Coinbase (COIN) initial public offering garnered significant investor attention. Coinbase’s platform facilitates cryptocurrency buying, selling, and storage. On listing, COIN stock surged to a high of $429. This has been followed by some profit taking, and the stock currently trades at around $300. It seems that Coinbase is attractive for long-term exposure considering the wider adoption of cryptocurrencies. Company specific fundamentals also point to the stock trending higher. Which Factors Make Coinbase A Stand-Out? A recent report by suggests that the total number of global crypto users has reached 106 million as of January 2021. Six months back, the number of crypto users was 74 million. As such, cryptocurrency adoption seems to be at an inflection point. Specific to Coinbase, the number of users has been steadily climbing. The company reported verified users of 32 million for FY2019. Last year, the number of verified users increased to 43 million. What's more, for the first quarter of 2021, verified users have increased to 56 million. Of course, transacting users are more important from a revenue perspective than verified users. In December 2019, the company reported 1 million transacting users. As of March 2021, transacting users swelled to 6.1 million; in 15 months, the number of transacting users has increased sixfold. A vast base of verified users is likely to ensure that transacting user growth remains strong. These are all positive trends and are likely to translate to stock upside. (See Coinbase stock analysis on TipRanks) Strong Growth And Margins With an increase in transacting users, Coinbase has reported strong top-line growth. For FY2020, the company reported revenue growth of 139.3% to $1.3 billion. For the same period, the company reported EBITDA growth of a whopping 2,095.8% to $527 million. This implied a healthy EBITDA margin of 41.3%. For the current year, the company has guided for revenue of $1.8 billion and adjusted EBITDA of $1.1 billion. This would imply an EBITDA margin of 61.1%. Therefore, revenue growth is likely to be tied to significant expansion of key margins. Further, for FY2020, the company reported operating cash flow of $294 million (excluding impact of change in custodial funds due to customers). With strong top-line growth coupled with EBITDA margin expansion, OCF is likely to surge in the next few years. This would also imply healthy free cash flows. Coinbase reported cash and equivalents of $1 billion as of December 2020. With the IPO proceeds, the company has an ample financial buffer to accelerate sales and marketing efforts. This is likely to result in user growth and sustained top-line growth. On top of this, the company has witnessed a steady growth in market share. As of Q1 2021, the total assets on the company’s platform were $223 billion, representing 11.3% of the crypto asset market. In FY2018, the company’s crypto asset market share was 4.5%. From a growth perspective, it should be noted that in FY2019, Bitcoin and Ethereum accounted for 72% of the trading volume. In FY2020, the trading volume concentration for these two assets declined to 56%. With Coinbase supporting an increasing number of assets, its trading volume will correlate less with the price fluctuations of Bitcoin, and it is also likely to attract new users. Wall Street’s Take Turning to the analyst community, 5 Buys and 2 Holds have been assigned in the past three months. So, Coinbase is a Moderate Buy. At $447, the average analyst price target implies 50.18% upside potential. Concluding Views Coinbase currently has a market capitalization of $59 billion. Considering the FY2021 revenue guidance of $1.8 billion, COIN stock trades at 32 times forward revenue, which might seem expensive. However, it is worth noting that top-line and cash flow growth is likely to remain strong for the coming years. Even if top-line growth is around 30% to 40% over the next few years, with a healthy EBITDA margin, the business will deliver strong free cash flows. The stock, therefore, seems attractive, considering the long-term growth potential. If Bitcoin and cryptocurrency adoption continue to accelerate at the current pace, it might just be the beginning of the growth story for Coinbase. Disclosure: On the date of publication, Faisal Humayun did not have (either directly or indirectly) any positions in the securities mentioned in this article. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.

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  • Bitcoin price falters after breaking through technical barrier

    Trading has been volatile in recent weeks after the token moved past $64,000 in mid-April. On Sunday morning it was trading at around $56,380.

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  • Crypto’s Shadow Currency Surges Past Deposits of Most U.S. Banks

    (Bloomberg) -- Tether, the crypto stablecoin backed one-for-one by fiat currencies, surpassed $50 billion in circulation, a sum that’s more than the insured deposits at all but 44 of the thousands of U.S. banks.It’s a remarkable milestone for a token that enjoys wide use as a method of payment in the crypto ecosystem, even as the eponymous private company behind it has endured regulatory scrutiny for its opacity on where it holds the enormous sum of reserves that back the token.Tether is set to release the first quarterly statement on its reserves to the New York Attorney General this month. The disclosure is part of a settlement of a long-running dispute with state regulators over whether it actually has the reserves, but it is unclear whether investors will get a glimpse at it.Not that Tether investors seem to care either way. The token’s popularity has only grown amid the legal hubbub, as it became the most traded cryptocurrency in the world, exceeding even the volume of market leader Bitcoin. Traders and speculators use it as a conduit to conduct transactions on crypto-only exchanges such as Binance and to park assets to avoid the sector’s extreme price volatility.“At those offshore exchanges Tether is the main collateral and margin type,” said Nic Carter, co-founder of researcher Coin Metrics. “Exchange volumes are way up and Binance volume is way up. For traders to get access to these crypto-only exchanges they often prefer a stablecoin like Tether. You can think of the supply of Tether as a transparent proxy for the balance sheet of both the crypto-only exchanges as well as the funds trading crypto on those exchanges.”About 66% of Bitcoin is bought using Tether, according to data tracker CryptoCompare. And Tether’s use is likely to expand since Coinbase Global Inc., the largest U.S. crypto exchange, is planning to allow trading of the stablecoin on its Coinbase Pro platform.The quarterly report will be released to New York in May, according to Stuart Hoegner, general counsel for the crypto exchange Bitfinex and Tether. The companies, which are based primarily in the British Virgin Islands, settled without admitting or denying any wrongdoing.When the settlement was announced, New York Attorney General Letitia James said “Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines. Tether’s claims that its virtual currency as fully backed by U.S. dollars at all times was a lie.”The cryptosphere saw few ripples in the wake of the settlement, with the amount of Tether created continuing to surge after the announcement. Market participants anticipate a similar reaction no matter what that quarterly report reveals.“The fact that Coinbase added it tells you everything you need to know,” said Kyle Samani, co-founder of Multicoin Capital.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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  • Why Steven Madden Shares Are Back in Style

    Fashionable footwear seems to be making a post-Covid comeback. Also, Wall Street opinions on Dana, Pinterest, Avangrid, ServiceNow, Under Armour, Coinbase, and LyondellBasell.

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