Coinbase Global extends gains, shares rise over 10%, trading at $339.79

Coinbase Global extends gains, shares rise over 10%, trading at $339.79

Coinbase Global, Inc. (NASDAQ:COIN) experienced a significant increase in its stock price on Tuesday, June 19, 2025, reaching an intraday high of $339.79, up over 10% from its previous close of $307.59. The stock price surge was driven by an upgrade in the price target by Benchmark, which increased its target from $301.00 to $421.00. The upgrade was accompanied by a buy rating, contributing to the stock's robust performance.

The day's trading saw approximately 7,989,025 shares change hands, a decline of 23% from the average daily volume of 10,440,298 shares. Despite the lower volume, the stock's price movement was substantial, with shares trading as high as $334.25 before closing at $332.55.

The positive sentiment around Coinbase Global was further bolstered by several analyst upgrades. Canaccord Genuity Group restated a "buy" rating with a $400.00 price target, while China Renaissance initiated coverage with a "buy" rating and a $353.30 target price. Although Bank of America and JPMorgan Chase & Co. lowered their price targets and ratings, the overall sentiment remained positive, with eleven analysts rating the stock with a "buy" and one issuing a "strong buy" rating.

Institutional investors also showed interest in Coinbase Global, with several firms increasing their stakes in the fourth quarter. Principal Securities Inc. lifted its stake by 35.3%, Truist Financial Corp by 18.8%, Sigma Planning Corp by 162.6%, First Horizon Advisors Inc. by 19.2%, and Howard Capital Management Inc. by 5.1%. These increases indicate strong institutional support for the company.

The company's recent earnings report showed mixed results, with earnings per share (EPS) of $1.94 missing analysts' consensus estimates of $2.18. However, the company reported a net margin of 21.14% and a return on equity of 20.25%, indicating strong financial health. Revenue for the quarter was $2.03 billion, up 24.2% year-over-year.

Coinbase Global continues to provide financial infrastructure and technology for the crypto economy, offering services such as the primary financial account and a marketplace for transacting in crypto assets. The company's focus on innovation and expansion in the crypto market has contributed to its strong performance and analyst optimism.

References:
[1] https://www.marketbeat.com/instant-alerts/coinbase-global-nasdaqcoin-shares-up-81-on-analyst-upgrade-2025-06-24/
[2] https://economictimes.indiatimes.com/wealth/invest/little-pepe-price-prediction-can-lilpepe-price-hit-1-in-2025/articleshow/122042558.cms