Coinbase Trades at 80.17X Forward P/E, Zacks Rates Stock a Sell

AnalystDigital Finance
โดย Zacks·US·Read original
Summary · why it matters

Coinbase Global Inc. shares are trading at a 12-month forward price-to-earnings of 80.17X, a steep premium to the industry average of 15.56X, the broader sector's 16.29X and the Zacks S&P 500 composite's 19.54X, and Zacks Investment Research says investors should avoid the stock given its stretched valuation. The firm assigns Coinbase a Value Score of D and a Zacks Rank #4 (Sell), citing softer market volatility, weaker digital asset prices, near-term revenue and earnings pressures, and below-average return on equity. Coinbase shares have gained 6.6% over the past three months, outperforming a 6.4% decline for its industry, a 1.4% gain for the sector and a 0.1% gain for the Zacks S&P 500 composite, a move Zacks attributes to Bitcoin momentum, institutional inflows into spot Bitcoin ETFs for which Coinbase serves as custodian, and improving regulatory clarity. The Zacks Consensus Estimate for 2026 now stands at a loss of 21 cents per share, an improvement from a loss of 37 cents expected seven days ago, while the 2027 consensus estimate has moved 13.7% higher over the past seven days. Coinbase is pursuing CEO Brian Armstrong's vision of an "everything exchange," with recent initiatives including regulated derivatives in Canada, an expanded Webull partnership, a collaboration with Moov on stablecoin payment and custody infrastructure for community banks and credit unions, and a nationwide conforming mortgage product backed by crypto assets introduced with Better Mortgage.

Impact on stocks 5

Digital Finance & Tokenization▼ · 4 stocks
Coinbase Global Inc
COIN
▼ NegativeCapitalrelevance

Zacks assigns Coinbase a #4 (Sell) rating and Value Score of D, citing stretched 80.17X forward P/E and near-term revenue/earnings pressures.

Financials▲ · 1 stocks

Theme Impact 2

Off-coverage companies 2

Moov FinancialPrivate± Mixed
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Zacks Investment Research, Inc.Private± Mixed
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