How to Buy Coinbase Stock
Coinbase Global Inc
Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally.
Coinbase stock last closed at $199.17, down 9.43% from the previous day, and has increased 244.11% in one year. It has overperformed other stocks in the Financial Data & Stock Exchanges industry by 2.17 percentage points. Coinbase stock is currently +328.97% from its 52-week low of $46.43, and -29.74% from its 52-week high of $283.48.
There are currently 245.57M COIN shares outstanding. The market capitalization of COIN is $48.91B. In the past 24 hours, 11.9M COIN shares were traded.
How to Buy Coinbase Stock
Wondering how to invest in Coinbase stock? Here's how.
- Choose where to buy Coinbase stock: You need to choose a stock brokerage, but don't worry - we've tested dozens of stock brokerages and apps to help you determine where to buy Coinbase stock.
- Open your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Deposit money your brokerage account: Choose your method of payment and add your information.
- Evaluate Coinbase stock: The Coinbase ticker symbol is COIN. Is Coinbase stock a good investment? Should you buy shares of COIN? How do COIN's underlying business fundamentals look? Do top analysts think Coinbase is a good buy? Why has COIN's stock price moved recently? (Hint: Our stock market research tools can help you figure out if COIN is a good stock to buy).
- Place your COIN buy order: Decide if you will purchase COIN shares at the current market price or use a limit order to purchase COIN shares at a given price.
- Get the latest news on your COIN investment: Create a watchlist to track your new investment in Coinbase stock.
Step 1: Choose where to buy Coinbase stock
You need an online brokerage account in order to access the NASDAQ market and buy COIN shares.
Our recommended brokerage: eToro
We believe that eToro is the best online stock brokerage. eToro gives you:
- Invest in stocks with zero commissions: Invest without paying trading commissions.
- Buy fractional shares: Even if you can't afford a full share, you can still purchase the stock.
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- Social investing: eToro offers a community of more than 20 million users worldwide. Talk to, learn from, and copy the unique crypto portfolios of other investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other assets: Such as ETFs and cryptos.
Get $10 towards your purchase of stock by creating an account with eToro now.
Open eToro AccountStep 2: Open your brokerage account
Now that you've chosen the best brokerage, you'll need to fill out some personal information so you are able to invest in COIN stock today.
How to Start a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal details to open a new brokerage account.
- Send your info by hitting the "Create Account" button. Get started with eToro today
Step 3: Deposit money your brokerage account
Now that you've created your account on the best stock broker app, your next step is to transfer the money for your investment:
Check out this video walkthrough to see the process of transferring funds into your investment account.
Step 4: Evaluate Coinbase stock
After you have chosen the best place to buy Coinbase stock, it's crucial to analyze their stock before you invest, so you truly comprehend the risk and opportunity.
Coinbase shares data
COIN Zen Score
WallStreetZen was built to help everyday investors perform better fundamental analysis.
You can see all of the due diligence checks on COIN's stock page.
What is the fair value of COIN stock?
You can use a variety of different financial metrics, analyses, models, and charts to gauge COIN's intrinsic value.
Using relative valuations metrics:
- COIN could be undervalued based on its P/E ratio of 35.76x, relative to Financial Data & Stock Exchanges industry P/E ratio of 36.41x
- COIN could be overvalued based on its P/B ratio of 6.06x, relative to Financial Data & Stock Exchanges industry P/B ratio of 4.54x
You can access additional valuation analysis on COIN's stock here.
COIN Financial Summary
Pros:
- COIN profit margin has gone up from -81.2% to 34% in the past year.
- There are more short-term assets than short-term liabilities on the COIN balance sheet.
- There are more short-term assets than long-term liabilities on the COIN balance sheet.
- COIN earnings of $1.61B is not sufficient to cover its interest payments.
Cons:
- COIN has a relatively high debt to equity ratio of 42.12.
- COIN's operating cash flow of $871.36M allows it to safely service it's debt of $4.50B.
Do analysts think it's a good time to buy Coinbase stock
Out of 17 sell side analysts who monitor COIN, the consensus analyst rating on Coinbase is a Hold
Please keep in mind that analyst ratings are not stock recommendations, nor are they investment advice.
Most Recent COIN Analyst Ratings
Kyle Voigt, a bottom 6% analyst from Keefe, Bruyette & Woods maintains COIN with a hold rating and raises their COIN price target from $230.00 to $240.00, on May 3, 2024.
Joseph Vafi, a top 4% analyst from Canaccord Genuity maintains COIN with a strong buy rating and raises their COIN price target from $240.00 to $280.00, on May 3, 2024.
Canaccord Genuity's Joseph Vafi raised their price target on Coinbase (NASDAQ: COIN) by 16.7% from $240 to $280 on 2024/05/03. The analyst maintained their Strong Buy rating on the stock.
Coinbase reported its Q1 2024 earnings on 2024/05/02.
Vafi said their takeaway from the print was "that it underscores the company's aggressive and yet thoughtful approach to garnering broader market share in both good and less good crypto market environments."
The analyst added that they were encouraged by the launch of, and initial traction gained by, the company's layer 2 blockchain, called Base.
Earnings Report
For Q1 2024, Coinbase reported:
- EPS of $1.65, which beat the Zacks Consensus Estimate of $1.04 and Q1 2023's $0.15.
- Revenue of 1.64B, which beat the Zacks Consensus Estimate by 29.55% and Q1 2023's $772.53M.
- Adjusted EBITDA of $1.014B, up from Q1 2023's $287M.
For Q2 2024, management guided:
- In 2024/04, we generated over $300M of total transaction revenue and expect Q2 subscription and services revenue to be within a range of $525M to $600M, assuming crypto asset prices stay in the range we have seen year to date.
- Transaction expenses in the mid-teens as a percentage of net revenue
- Technology & development and general & administrative expenses of $660M to $710M, driven primarily by elevated expenses associated with higher trading volumes (notably customer support and certain infrastructure expenses).
- Sales & marketing expenses of $150M to $180M, driven by significantly higher USDC customer rewards – as on-platform USDC balances nearly doubled to $5.5B as of 2024/03/31 – as well as seasonally higher NBA spend.
Management commented in its Letter to Shareholders: "Our financial performance in Q1 reflects our focused execution on product expansion, ongoing operational discipline, and strong crypto market conditions.
"We generated $1.6B of total revenue and $1.2B of net income. Adjusted EBITDA was $1B – more than we generated in all of 2023.
"Additionally, we made meaningful progress against our 2024 priorities of driving revenue, utility, and regulatory clarity.
"Our market share in US spot and derivatives increased, we reached all-time highs on Coinbase Prime, and USDC market capitalization increased.
"Coinbase One adoption remains strong, and our international business was a larger contributor to our growth. Through Base, our Layer 2 solution, we are expanding the utility of crypto by improving the infrastructure of the ecosystem, increasing the speed and stability of the network, and empowering builders to innovate on-chain.
"Lastly, we continue to drive regulatory clarity for crypto through grassroots advocacy, pushing for legislation, and ongoing efforts to seek clarity through the courts.
"All in, Q1 was a highly productive start to 2024 for Coinbase and we remain as focused as ever on our mission of increasing economic freedom in the world."
John Todaro, a top 2% analyst from Needham maintains COIN with a buy rating and lowers their COIN price target from $275.00 to $260.00, on May 3, 2024.
Mike Colonnese, a top 6% analyst from HC Wainwright & Co. maintains COIN with a buy rating and raises their COIN price target from $250.00 to $300.00, on Apr 29, 2024.
Harshita Rawat, a top 34% analyst from Bernstein maintains COIN with a hold rating and raises their COIN price target from $80.00 to $200.00, on Apr 18, 2024.
You can dig deeper into what analysts are forecasting on the Coinbase stock forecast page.
Metrics for Advanced COIN Traders
How is COIN performing as a company?
Last year, COIN earnings were $1.35B. During the last 3 year, COIN's earnings have gone up by 47.85% per year. This was faster than the Financial Data & Stock Exchanges industry average of 11.1%.
Last year, COIN revenue was $3.97B. Over the last three year, COIN's revenue has grown by 72.17% per year. This was faster than the Financial Data & Stock Exchanges industry average of 15.93%.
Find out more about COIN's earnings and revenue performance here.
Are COIN executives and large shareholders buying or selling the stock?
Over the past 12 months, insiders at COIN have sold more shares than they have bought.
Alesia J. Haas, Chief Financial Officer of COIN, was the latest COIN insider to sell. They sold $63,857.10 worth of COIN shares on May 15, 2024.
Get more info about who owns COIN shares here.
Does COIN provide a stable income stream?
No, Coinbase doesn't provide an income stream by paying out dividends.
What others are saying about COIN
One of the primary reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to learn what other traders have to say.
Step 5: Place your COIN buy order
You have two main types of orders:
- Market order: A market order is an order to buy or sell a stock at the best possible price.
Market orders are mostly the best for newer investors. - Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at a particular dollar amount limit, use a limit order.
Click the Open button and eToro will execute the order.
If you require more assistance buying stocks on eToro, click the how to video below:
Step 6: Get the latest news on your COIN investment
Now that you own some shares in COIN, you'll want to stay up-to-date on your new investment.
Start a watchlist to track the most important metrics related to your COIN stock.
COIN Feed
How to Buy Stock in Coinbase
To reiterate, here are the 6 steps to buy Coinbase stock:
- Choose where to buy Coinbase stock
- Open your brokerage account
- Deposit money your brokerage account
- Evaluate Coinbase stock
- Place your COIN buy order
- Get the latest news on your COIN investment
If you require a online brokerage, eToro is our recommended venue.
Get Started with eToro TodayIf you want to track your new investment in Coinbase, create your watchlist below.
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