Coinbase Global (COIN) is the leading U.S. cryptocurrency exchange, making it easy for millions to buy, sell, trade, and store digital assets like Bitcoin (BTCUSDC), Ethereum (ETHUSD), and over 250 altcoins. It offers a user-friendly app with advanced trading tools, staking rewards, an NFT marketplace, and Coinbase Wallet for self-custody. The platform emphasizes security through insured hot wallets, 2FA, and cold storage, while Coinbase Prime serves institutions with custody and analytics.
Founded in 2012, Coinbase is headquartered in Wilmington, Delaware, and operates in over 100 countries.
Coinbase’s stock has plunged amid crypto volatility, tumbling 9% over the past five days and a steep 32% in the last month. It shed 48% over three months and 47% in six months, with year-to-date (YTD) losses at 28%. Over 52 weeks, shares are down 42% and 63% off the $444.64 high. Longer-term, two-year gains hold at 15% and three-year at 156%.
Compared to the S&P 500 Financials index (XLF), COIN stock has drastically underperformed, with its negative returns in the short and medium term dwarfing the index’s typical 2% gain in three months and a 4.5% rise in 52 weeks’ time. Extreme swings highlight crypto’s high-risk nature versus stable financial peers.
Coinbase delivered blockbuster third-quarter results on Oct. 30, 2025, fueled by surging crypto trading volumes. Revenue skyrocketed 55.1% year-over-year (YoY) to $1.87 billion from $1.21 billion, crushing analyst estimates of $1.78 billion by 4.9% and marking the company’s strongest quarter ever. Non-GAAP EPS soared to $1.44, beating forecasts of $1.17 by 23.2%, reflecting robust profitability from high transaction fees and diversified income streams like staking and stablecoins.
Diving deeper, adjusted EBITDA exploded to $801 million with a stellar 42.9% margin, topping expectations of $716 million by 11.8% thanks to efficient operations. Operating margin widened to 25.7% from 14.1% YoY, driven by consumer and institutional trading surges.
However, free cash flow swung to negative $784.5 million from positive $328.5 million prior, due to heavy investments in growth. USDC stablecoin revenue and derivatives trading also shone brightly.
Cathie Wood’s Ark Invest (ARKK) actively bought the dip last week, focusing on AI infrastructure, semiconductors, crypto, and precision healthcare while trimming ad-tech and consumer internet holdings.
Ark added shares in Coinbase early in the week but net sold 254,000 shares, rotating within crypto to its ARK 21Shares Bitcoin ETF (ARKB) (285,000 shares, ~$7 million), Bullish (BLSH) (1.53 million shares, $40 million), Circle (CRCL) (218,000 shares, $13 million), and Robinhood (HOOD) (453,000 shares, $41 million).
Semiconductor bets included AMD (AMD) (161,000 shares, $33 million) and Broadcom (AVGO) (87,000 shares, $27 million). Ark also loaded up on Alphabet (GOOG) (GOOGL) (149,000 shares, $50 million), CoreWeave (CRWV) (247,000 shares, $22 million), and Tempus AI (TEM) (704,000 shares, $37 million).
Funding came from big sales like The Trade Desk (TTD) (2.5 million shares, $74 million) and Teradyne (TER) (534,000 shares, $143 million).
As crypto prices continue to fall, crypto stocks like Coinbase undergo a rough phase in the market, bleeding capital. Amidst this, the continued fall presents investors with an entry point, as analysts have given COIN stock a “Moderate Buy” rating with a mean price target of $337.18, signaling a high upside of 105% from the market rate.
The stock has been rated by 34 analysts, receiving 20 “Strong Buy” ratings, one “Moderate Buy” rating, 11 “Hold” ratings, and two “Strong Sell” ratings.
On the date of publication, Ruchi Gupta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com