HC Wainwright & Co. has upgraded Coinbase Global Inc (COIN) from Sell to Buy, signaling a more optimistic outlook on the company's future. This change, effective October 29, 2025, comes as Coinbase continues to navigate the evolving landscape of the cryptocurrency market.
The upgrade reflects improved sentiment towards Coinbase’s fundamentals and business performance. As a leading provider in the financial services sector, Coinbase offers a platform that facilitates various activities with crypto assets, serving consumers, institutions, and developers alike. The company, headquartered in New York City, has a market capitalization of $83.4 billion and reported a trailing P/E ratio of 25.90 with an EPS of 11.51.
Coinbase is set to announce its upcoming earnings on July 28, 2026, where analysts estimate an EPS of $1.66 and revenue of $2.0 billion. Recent earnings performance has shown significant surprises, with Q3 2025 EPS at $1.50, surpassing estimates by 39.1%. Such results may bolster the confidence reflected in the recent analyst upgrade.
Analyst ratings provide valuable insights based on rigorous research and financial models. However, they should be considered alongside various factors such as company fundamentals, competitive positioning, and industry trends. The consensus among analysts currently stands at Buy, with 10 Strong Buy, 18 Buy, 15 Hold, and 1 Strong Sell ratings as of November 1, 2025.
The move underscores the evolving confidence in Coinbase’s strategic direction as it continues to adapt within the dynamic crypto landscape.