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Coinbase Global Inc
NASDAQ:COIN

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Coinbase Global Inc Logo
Coinbase Global Inc
NASDAQ:COIN
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Price: 239.62 USD -1.13% Market Closed
Updated: Mar 19, 2024

Intrinsic Value

Coinbase Global, Inc. operates as a secure hosted bitcoin wallet to purchase and use bitcoin. [ Read More ]

The intrinsic value of one COIN stock under the Base Case scenario is 71.11 USD. Compared to the current market price of 239.62 USD, Coinbase Global Inc is Overvalued by 70%.

Key Points:
COIN Intrinsic Value
Base Case
71.11 USD
Overvaluation 70%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Coinbase Global Inc

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Fundamental Analysis

Strengthened Financials and Positive Outlook
2023-Q4 Earnings Call

Strengthened Financials and Positive Outlook

In a down market, the company exhibited financial discipline and operational excellence, leading to a stronger balance sheet, profitability, and a 78% increase in subscription and services revenue, offsetting a decline in transaction revenue. Total operating expenses were cut by $2.6 billion, contributing to a net income of $95 million and adjusted EBITDA close to $1 billion. Q1 2024 is looking promising with an anticipated subscription and services revenue between $410 million to $480 million.

Financials

Balance Sheet Decomposition
Coinbase Global Inc

Current Assets 203.5B
Cash & Short-Term Investments 5.1B
Receivables 5B
Other Current Assets 193.3B
Non-Current Assets 3.5B
Long-Term Investments 343m
PP&E 205.3m
Intangibles 1.2B
Other Non-Current Assets 1.7B
Current Liabilities 197.7B
Accounts Payable 40.4m
Accrued Liabilities 324.4m
Other Current Liabilities 197.3B
Non-Current Liabilities 3B
Long-Term Debt 3B
Other Non-Current Liabilities 7.2m
Efficiency

Earnings Waterfall
Coinbase Global Inc

Revenue
3.1B USD
Cost of Revenue
-420.7m USD
Gross Profit
2.7B USD
Operating Expenses
-2.8B USD
Operating Income
-154.9m USD
Other Expenses
249.8m USD
Net Income
94.9m USD

Free Cash Flow Analysis
Coinbase Global Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
Chart
Table
What is Free Cash Flow?
Fundamental Scores

COIN Profitability Score
Profitability Due Diligence

Coinbase Global Inc's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

Positive Free Cash Flow
Positive Gross Profit
Exceptional 3-Years Revenue Growth
Positive Revenue Growth Forecast
56/100
Profitability
Score

Coinbase Global Inc's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

COIN Solvency Score
Solvency Due Diligence

Coinbase Global Inc's solvency score is 35/100. The higher the solvency score, the more solvent the company is.

Low D/E
Negative Net Debt
Long-Term Solvency
Short-Term Solvency
35/100
Solvency
Score

Coinbase Global Inc's solvency score is 35/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

COIN Price Targets Summary
Coinbase Global Inc

Wall Street analysts forecast COIN stock price to drop over the next 12 months.

According to Wall Street analysts, the average 1-year price target for COIN is 180.25 USD with a low forecast of 80.8 USD and a high forecast of 276.15 USD.

Lowest
Price Target
80.8 USD
66% Downside
Average
Price Target
180.25 USD
25% Downside
Highest
Price Target
276.15 USD
15% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

COIN Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

COIN Price
Coinbase Global Inc

1M 1M
+38%
6M 6M
+207%
1Y 1Y
+219%
3Y 3Y
-4%
5Y 5Y
-4%
10Y 10Y
-4%
Annual Price Range
239.62
52w Low
48.49
52w High
256.62
Price Metrics
Average Annual Return -43.1%
Standard Deviation of Annual Returns 61.55%
Max Drawdown -91%
Shares Statistics
Market Capitalization 58B USD
Shares Outstanding 242 280 000
Percentage of Shares Shorted 7.35%

COIN Return Decomposition
Main factors of price return

What is price return decomposition?

COIN News

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Last Important Events
Coinbase Global Inc

Significant happenings or occurrences that are of interest to investors. These could be company-specific developments or market-wide shifts.

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Sentiment Analysis
Coinbase Global Inc

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Last 7 Days 7D
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Last 90 Days 90D

Company Profile

Coinbase Global Inc Logo
Coinbase Global Inc

Country

United States of America

Industry

Financial Services

Market Cap

58B USD

Dividend Yield

0%

Description

Coinbase Global, Inc. operates as a secure hosted bitcoin wallet to purchase and use bitcoin. The company is headquartered in Wilmington, Delaware and currently employs 3,730 full-time employees. The company went IPO on 2021-04-14. The firm offers retail users the primary financial account for the crypto economy, institutions a marketplace with a liquidity for transacting in crypto assets, and ecosystem partners technology and services that enable them to build crypto-based applications and accept crypto assets as payment. The firm is engaged in building technology and financial infrastructure products and services that enable any person or business with an Internet connection to discover, transact, and engage with crypto assets and decentralized applications. The company offers Coinbase Prime, a one-stop shop for institutions to participate in the cryptoeconomy. Its Coinbase Prime combines advanced trading, custody, real-time market data and analytics, and financing products to help customers access and transact in crypto markets.

Contact

DELAWARE
Wilmington
C/O The Corporation Trust Company, 1209 Orange Street
+13027770200.0
https://www.coinbase.com/

IPO

2021-04-14

Employees

3 730

Officers

Co-Founder, Chairman & CEO
Mr. Brian Armstrong
President & COO
Ms. Emilie M. Choi
Co-Founder & Director
Mr. Frederick Ernest Ehrsam III
Chief Financial Officer
Ms. Alesia Jeanne Haas
Chief Legal Officer & Corporate Secretary
Mr. Paul Grewal
Chief Accounting Officer
Jennifer N. Jones
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Vice President of Investor Relations
Mr. Anil K. Gupta
Chief People Officer
Mr. Lawrence J. Brock
Chief Policy Officer
Mr. Faryar Shirzad
Executive Vice President of Engineering
Mr. Manish Gupta
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See Also

Discover More
What is the Intrinsic Value of one COIN stock?

The intrinsic value of one COIN stock under the Base Case scenario is 71.11 USD.

Is COIN stock undervalued or overvalued?

Compared to the current market price of 239.62 USD, Coinbase Global Inc is Overvalued by 70%.