Coinbase stock hits 52-week low at 133.46 USD
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Coinbase stock hits 52-week low at 133.46 USD
Coinbase Global Inc’s stock has reached a new 52-week low, hitting 133.46 USD. The current price of $133.23 sits just 1% above this low, with the stock down 59% from its 52-week high of $324.80. This marks a significant downturn for the cryptocurrency exchange platform, reflecting a 56.64% decline over the past year. Year-to-date performance shows a 39.5% decline, while the past six months alone have seen a 30.89% drop. The drop in stock price underscores the challenges faced by Coinbase amidst a volatile cryptocurrency market and regulatory scrutiny, contributing to the substantial decrease in its market valuation. The company’s revenue declined 25% over the last twelve months, while analysts currently maintain a Hold rating. Despite the headwinds, InvestingPro analysis suggests the stock may be slightly undervalued at current levels. For deeper insights, investors can access one of 13 additional InvestingPro Tips, plus comprehensive Pro Research Reports covering COIN and 1,400+ other US equities.
In other recent news, Coinbase Global Inc. reported its third-quarter earnings, revealing a diluted GAAP earnings per share of $2.51, significantly surpassing the consensus expectation of $0.18. This figure included a $715 million gain on crypto assets held for investment. The company’s total revenue was $1.22 billion, which remained flat sequentially but was down 35% year-over-year, aligning with Street expectations. Adjusted EBITDA increased by 60% quarter-over-quarter to $333 million, surpassing consensus by approximately 18%. In response to these results, Freedom Broker maintained a Buy rating on Coinbase but lowered its price target to $175, citing a weak setup for the fourth quarter.
Additionally, Morgan Stanley downgraded Coinbase to Underweight from Equalweight, adjusting its price target to $120 and reducing revenue forecasts for 2027 and 2028. Meanwhile, US Tiger Securities lowered its price target to $230, attributing the decline to broader market and industry headwinds rather than company-specific issues. Canaccord also reduced its price target to $275, maintaining a Buy rating and noting the company’s expansion beyond crypto spot trading. BTIG reiterated a Buy rating with a $240 price target, suggesting potential benefits for Coinbase following a Binance hack.
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