Latest news with #non-Bitcoin
Business Insider
05-08-2025
- Business
- Business Insider
COIN or HOOD? BofA's Top Analyst Picks the Better Crypto Exchange Platform
Bank of America (BofA) analyst Craig Siegenthaler reviewed his ratings on cryptocurrency exchange platforms, Coinbase Global (COIN) and Robinhood Markets (HOOD) following their second-quarter results. The top analyst views Robinhood as the better crypto play compared to Coinbase, having updated his models in the brokers, asset managers, and exchanges group to reflect the Q2 reports. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Siegenthaler is a five-star analyst on TipRanks, ranking #82 out of the 9,897 analysts tracked. He boasts a 64% success rate and an average return per rating of 18.80%. Remarkably, his best rating to date has been on Robinhood Markets stock, where he assigned a Buy recommendation on August 12, 2024, and has remained at that rating since. This bullish call has earned him a massive average return of 438.80%. BofA Raises HOOD's Price Target Siegenthaler raised his price target on HOOD stock from $112 to $119, implying 19.1% upside potential from current levels. He maintained a 'Buy' rating on HOOD, reflecting his optimistic view of the company's long-term growth potential. The analyst was highly encouraged by Robinhood's 40% beat on earnings, which he attributes to improved sales and effective expense management strategies. Robinhood's earnings per share (EPS) of $0.42 surpassed analysts' consensus estimate of $0.31 per share. Additionally, sales jumped 45% year-over-year to $989 million, exceeding expectations of $914.6 million. The consistent rise in Bitcoin prices has helped Robinhood generate higher revenue from interest-earning assets and growing transaction volumes. BofA Slashes COIN's Price Target Siegenthaler slashed Coinbase Global's price target to $369 from $383, implying 17.3% upside potential from current levels. However, he maintained a 'Hold' rating on COIN, signaling a cautious stance on the cryptocurrency exchange. The analyst was discouraged by Coinbase's earnings miss. On July 31, COIN stock plunged over 16% after the company reported a huge EPS miss for the second quarter. Coinbase recorded EPS of $0.12, significantly below the consensus estimate of $1.25 and down from last year's $0.14 per share. Meanwhile, sales rose 3.3% year-over-year to $1.5 billion, missing analysts' expectations of $1.59 billion. Coinbase's trading volumes fell 40% compared to the prior quarter, due to lower volatility in crypto markets as investors pulled back from non-Bitcoin assets. Which Is the Best Crypto Exchange Stock? We used the TipRanks Stock Comparison Tool to determine which stock is more favored by analysts. Currently, Wall Street has a 'Moderate Buy' consensus rating on both stocks, with COIN offering higher upside potential over the next 12 months.
Yahoo
29-04-2025
- Business
- Yahoo
Why Coinbase Global, Inc. (COIN) Crashed on Monday
We recently published an article titled . In this article, we are going to take a look at where Coinbase Global, Inc. (NASDAQ:COIN) stands against the other stocks. A lackluster trading persisted on the stock market on Monday, with Wall Street's major indices finishing mixed, as investors continued to digest and reposition portfolios ahead of more corporate earnings results. Among the bellwether indices, only the Nasdaq finished in the red, dropping 0.10 percent. In contrast, the Dow Jones grew by 0.28 percent, and the S&P 500 inched up by 0.06 percent. Meanwhile, 10 companies defied a predominantly optimistic market. To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume. A shot of someone securely accepting crypto assets as payment, showcasing the company's payment solutions. Coinbase Global, Inc. (NASDAQ:COIN) dropped its share prices by 2.08 percent on Monday to close at $205.27 apiece as investors disposed of shares following a rating downgrade from an investment firm. In its market note, Compass Point Research recommended investors to 'sell' shares in Coinbase Global, Inc. (NASDAQ:COIN) amid ongoing scrutiny ahead of the release of its first quarter earnings performance on May 8, 2025. According to Compass Point, it expects the company to announce disappointing first quarter results, a slowdown in retail trading, and less optimistic trends in the second quarter. Additionally, the company highlighted a shift toward lower margin institutional segments and the possibility of Coinbase Global, Inc. (NASDAQ:COIN) losing its unique position as the sole non-Bitcoin cryptocurrency stock. Compass Point also downgraded its price target for Coinbase Global, Inc. (NASDAQ:COIN) to $180, which marked a 12-percent downside from COIN's closing price on Monday. Overall COIN ranks 10th on our list of the worst performing stocks on Monday. While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than COIN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Coinbase Reports 41% Drop in Altcoin Market, Predicts Potential Crypto Rebound by Q3 2025
Coinbase's latest market report paints a mixed picture for the crypto market, showing signs of decline but also potential for recovery later in the year. The report, published on April 15, reveals that the altcoin market cap has dropped by 41%, from $1.6 trillion in December 2024 to about $950 billion by mid-April 2025. This marks a significant contraction, with the market reaching as low as $906.9 billion on April 9. Venture capital funding for crypto projects has also decreased by 50-60% from the highs of 2021-2022, with these factors contributing to a gloomy outlook for the sector. David Duong, Coinbase's global head of research, pointed to these issues, alongside global trade tariffs and ongoing economic uncertainty, as factors that may signal the beginning of a new "crypto winter." Duong highlighted that the decrease in investor sentiment and lower venture capital interest in crypto are largely tied to broader macroeconomic pressures, including fiscal tightening and tariffs. However, the report doesn't rule out the possibility of a recovery. Coinbase suggests that the market could stabilize by mid-to-late Q2 2025, paving the way for a potential rebound in Q3. Coinbase's analysis emphasizes that the traditional 20% drop commonly used to define bear markets is less applicable in the current crypto landscape. Instead, they recommend relying on more sophisticated metrics such as risk-adjusted returns and the 200-day moving average to gauge market shifts. Bitcoin's performance has been relatively more stable compared to altcoins. While it has experienced some declines, it has not fallen as steeply as many altcoins. However, according to Coinbase's data, Bitcoin's price recently dipped below its 200-day moving average, a key technical indicator that signals broader market shifts. Additionally, Coinbase's COIN50 index, which tracks the top 50 non-Bitcoin tokens, has also fallen below its 200-day moving average, indicating that weakness may persist across the market. The volatility of newer sectors like meme coins, decentralized physical infrastructure networks (DePIN), and artificial intelligence-related tokens is contributing to the overall market instability. Coinbase notes that these sectors have been more affected by price fluctuations, making Bitcoin a less reliable indicator of the overall market direction. Duong stated that as Bitcoin increasingly functions as a "store of value," evaluating the broader crypto market may require new approaches that take into account the growing diversity of the space. While the outlook for the short term remains cautious, Coinbase remains optimistic about the potential for a market recovery later in 2025. The firm advises investors to stay flexible and cautious, as market conditions remain uncertain. However, if global economic factors improve, Coinbase expects a stronger market in the latter half of 2025. Sign in to access your portfolio
