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Coinbase Global (COIN) AI Stock Analysis
Coinbase Global
(NASDAQ:COIN)
The score is supported primarily by solid financial resilience (strong recent cash flow and manageable leverage) and a constructive earnings-call outlook driven by diversification into subscriptions, stablecoins, and new products. These positives are tempered by weak technical momentum (price below key moving averages with negative MACD) and unfavorable valuation signals tied to loss-making results (negative P/E and no dividend yield).
Coinbase Global Key Performance Indicators (KPIs)
Trading VolumeMeasures the total amount of cryptocurrency traded on the platform, indicating user engagement, market activity, and Coinbase's ability to generate transaction fees.
Trading volume has rebounded strongly from the 2022–23 trough into a 2024–early‑2025 peak driven by product expansion (Everything Exchange), derivatives strength and strategic M&A (Deribit), but has pulled back since—highlighting that gains are product‑led yet highly volatile. For investors, this means transaction revenue tailwinds helped sustain adjusted EBITDA, but durability depends on sustained derivative activity and market sentiment; management’s cautious Q1 guidance and mark‑to‑market exposure keep GAAP results and near‑term revenue sensitive to crypto price swings.
The FlyCoinbase Global (COIN) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $38.51B
- Dividend Yield
- ―
- Average Volume (3M)
- 9.20M
- Price to Earnings (P/E)
- -55.5
- Beta (1Y)
- 2.72
- Revenue Growth
- -47.61%
- EPS Growth
- -120.69%
- Country
- US
- Employees
- 4,951
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Financial - Data & Stock Exchanges
Coinbase Global Business Overview & Revenue Model
Company Description
Coinbase Global, Inc. delivers fundamental financial infrastructure and technological solutions to the expanding cryptoeconomy, operating across both the United States and international markets. The company provides a core financial gateway for indiv...
How the Company Makes Money
Coinbase primarily generates revenue from (1) transaction revenue and (2) subscription and services revenue, supplemented by other revenue items. 1) Transaction revenue (trading fees): Coinbase earns fees when users trade digital assets on its platfo...
Coinbase Global Earnings Call Summary
The call was strongly optimistic. Coinbase highlighted significant progress in revenue diversification, stablecoin adoption, AI-enabled finance, tokenized equities, derivatives integration, and regulatory conditions. The main negatives were the 10% quarter-over-quarter decline in spot trading volume, flat total revenue, the still-small absolute scale of agentic trading, and longer-term quantum-security and liquidity-development challenges.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said prediction markets crossed $200 million of annualized run rate revenue in the third quarter, while overall crypto spot trading volume was down 10% quarter-over-quarter and revenue was flat quarter-over-quarter; predictions plus derivatives were about 25% of total transaction revenue, subscription services was roughly 49% of total net revenues, Coinbase captures about 50% of the overall economics of USDC and holds about 30% of total USDC in circulation, and total assets on its platform have grown for 5 sequential quarters. Agentic trading volume is growing something like 20% week-over-week, tokenized Coinbase equity trading volume has reached $3 billion since launch for non-U.S. customers, and Brian Armstrong said his focus will shift much more to customers and products in 2027.
Coinbase Global Financial Statement Overview
Summary
Balance sheet leverage is manageable and recent cash generation is strong (positive, improving operating cash flow and free cash flow even as earnings weakened). However, earnings and revenue are highly cyclical, with a shift to a TTM net loss and revenue decline, increasing volatility and execution risk.
Income Statement
58NeutralBalance Sheet
67PositiveCash Flow
74Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.63B | 7.18B | 6.56B | 3.11B | 3.19B | 7.84B |
| Gross Profit | 4.40B | 5.36B | 4.91B | 1.97B | 2.56B | 6.10B |
| EBITDA | -372.39M | 1.80B | 3.15B | 145.56M | -2.82B | 3.12B |
| Net Income | -701.62M | 1.26B | 2.58B | 94.87M | -2.62B | 3.62B |
Balance Sheet | ||||||
| Total Assets | 27.39B | 29.67B | 22.54B | 14.75B | 89.72B | 21.27B |
| Cash, Cash Equivalents and Short-Term Investments | 8.82B | 11.91B | 9.55B | 5.53B | 5.29B | 7.22B |
| Total Debt | 6.89B | 7.83B | 4.63B | 2.99B | 3.49B | 3.51B |
| Total Liabilities | 13.45B | 14.88B | 12.27B | 8.47B | 84.27B | 14.89B |
| Stockholders Equity | 13.94B | 14.79B | 10.28B | 6.28B | 5.45B | 6.38B |
Cash Flow | ||||||
| Free Cash Flow | 3.85B | 2.43B | 2.56B | 922.95M | -1.59B | 3.96B |
| Operating Cash Flow | 3.85B | 2.43B | 2.56B | 922.95M | -1.59B | 4.04B |
| Investing Cash Flow | -1.42B | -2.05B | -282.38M | 5.39M | -663.82M | -1.12B |
| Financing Cash Flow | -4.57B | 740.28M | 2.83B | -811.33M | -5.84B | 9.98B |
Coinbase Global Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COIN, the sentiment is Negative. The current price of 145.45 is below the 20-day moving average (MA) of 167.11, below the 50-day MA of 178.09, and below the 200-day MA of 177.26, indicating a bearish trend. The MACD of -9.11 indicates Positive momentum. The RSI at 36.06 is Neutral, neither overbought nor oversold. The STOCH value of 15.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COIN.
Coinbase Global Risk Analysis
Coinbase Global disclosed 84 risk factors in its most recent earnings report. Coinbase Global reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksCoinbase Global Peers Comparison
Overall Rating
CME85Outperform
ICE83Outperform
CBOE80Outperform
NDAQ79Outperform
SPGI79Outperform- COIN62Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| CME | 85Outperform | $109.61B | 24.80 | 16.24% | 3.72% | 8.99% | 18.85% |
| ICE | 83Outperform | $96.28B | 23.22 | 14.08% | 1.19% | 13.51% | 33.41% |
| CBOE | 80Outperform | $36.43B | 24.43 | 26.84% | 0.88% | 14.31% | 50.84% |
| NDAQ | 79Outperform | $60.28B | 28.91 | 17.29% | 1.08% | 11.94% | 30.40% |
| SPGI | 79Outperform | $137.75B | 27.71 | 17.54% | 0.83% | 5.99% | 22.20% |
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| COIN | 62Neutral | $36.49B | -55.52 | -5.08% | ― | -47.61% | -120.69% |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| COIN | Coinbase Global, Inc. | 145.45 | -173.85 | -54.45% | |
| CBOE | Cboe Global Markets | 344.28 | 95.41 | 38.34% | |
| CME | CME Group Inc | 304.06 | 46.07 | 17.86% | |
| ICE | Intercontinental Exchange Inc. | 170.93 | 26.64 | 18.46% | |
| SPGI | S&P Global | 466.03 | -0.01 | >-0.01% | |
| NDAQ | Nasdaq OMX | 106.97 | 22.53 | 26.67% |
Coinbase Global Corporate Events
Coinbase Announces Retirement of Chief Accounting Officer
NeutralOn September 29, 2026, Coinbase Global, Inc. announced that Jennifer Jones, its Chief Accounting Officer and principal accounting officer, decided to retire and will remain in her roles until a successor is in place. Coinbase has begun searching for...
Coinbase Global appoints Anthony Armstrong to board
PositiveOn September 1, 2026, Coinbase Global, Inc. expanded its board from nine to ten members and appointed Anthony Armstrong as a director, with his term running until the 2027 annual meeting of shareholders or until a successor is chosen. Armstrong will...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 31, 2026