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Investing.com - Citizens JMP has reiterated its Market Outperform rating and $440.00 price target on Coinbase Global Inc. (NASDAQ:COIN), which currently trades at $377.76 after delivering impressive returns of 77.65% over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
The firm notes that Coinbase shares currently trade at approximately 20 times enterprise value to 2026 adjusted EBITDA estimate.
Citizens JMP’s model primarily considers Coinbase’s existing business operations and does not factor in potential contributions from the concept of the "everything exchange," which could potentially support significant growth in coming years.
The $440 price target reflects approximately 11 times enterprise value to revenue multiple on Citizens JMP’s 2026 estimated revenue and roughly 23 times enterprise value to EBITDA multiple on 2026 estimated EBITDA.
The firm also supports this valuation with a long-term discounted cash flow analysis and maintains that investors who can tolerate volatility may benefit from what it describes as "tremendous optionality" in the stock.
In other recent news, Coinbase Global Inc. reported its financial results for the second quarter of 2025, which showed a significant miss on both earnings per share (EPS) and revenue forecasts. The company announced an EPS of $0.12, which was well below the anticipated $1.51, representing a 92.05% negative surprise. Revenue also did not meet expectations, totaling $1.5 billion compared to the forecasted $1.59 billion, a shortfall of 5.66%. Despite these results, Coinbase’s stock showed some resilience in trading. Analysts and investors are closely watching these developments to assess the company’s financial trajectory. These earnings figures are crucial for investors as they provide insight into the company’s current financial health. The recent performance may influence future analyst ratings and investor sentiment.
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