Coinbase Global, Inc.

NasdaqGS:COIN Stock Report

Market Cap: US$51.3b

Coinbase Global Valuation

Is COIN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of COIN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: COIN ($194.25) is trading above our estimate of future cash flow value ($19.56)

Significantly Below Future Cash Flow Value: COIN is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for COIN?

Key metric: As COIN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for COIN. This is calculated by dividing COIN's market cap by their current revenue.
What is COIN's PS Ratio?
PS Ratio8.5x
SalesUS$6.04b
Market CapUS$51.25b

Price to Sales Ratio vs Peers

How does COIN's PS Ratio compare to its peers?

The above table shows the PS ratio for COIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average10.3x
NDAQ Nasdaq
9.3x7.26%US$52.3b
MSCI MSCI
12.1x7.97%US$40.2b
MCO Moody's
9.9x6.22%US$81.2b
TW Tradeweb Markets
10x9.19%US$24.3b
COIN Coinbase Global
8.5x11.73%US$51.3b

Price-To-Sales vs Peers: COIN is good value based on its Price-To-Sales Ratio (8.5x) compared to the peer average (10.3x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does COIN's PS Ratio compare vs other companies in the US Capital Markets Industry?

26 CompaniesPrice / SalesEstimated GrowthMarket Cap
GLXY Galaxy Digital
0.08x2.89%US$9.65b
SNEX StoneX Group
0.05xn/aUS$8.08b
ETOR eToro Group
0.2x-106.01%US$2.23b
OPY Oppenheimer Holdings
0.7xn/aUS$1.23b
COIN 8.5xIndustry Avg. 3.6xNo. of Companies27PS03.26.49.612.816+
26 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: COIN is expensive based on its Price-To-Sales Ratio (8.5x) compared to the US Capital Markets industry average (3.6x).

Price to Sales Ratio vs Fair Ratio

What is COIN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

COIN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8.5x
Fair PS Ratio4.8x

Price-To-Sales vs Fair Ratio: COIN is expensive based on its Price-To-Sales Ratio (8.5x) compared to the estimated Fair Price-To-Sales Ratio (4.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst COIN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$194.25
US$202.00
+3.99%
27.54%US$330.00US$95.00n/a29
Sep ’27US$176.82
US$198.97
+12.53%
28.82%US$330.00US$95.00n/a29
Aug ’27US$146.26
US$201.11
+37.50%
29.45%US$330.00US$95.00n/a29
Jul ’27US$159.24
US$229.40
+44.06%
29.41%US$400.00US$107.00n/a30
Jun ’27US$182.61
US$230.60
+26.28%
28.78%US$400.00US$107.00n/a30
May ’27US$191.25
US$235.43
+23.10%
28.56%US$400.00US$120.00n/a28
Apr ’27US$172.99
US$244.86
+41.55%
32.36%US$420.00US$120.00n/a29
Mar ’27US$175.85
US$250.90
+42.68%
34.62%US$440.00US$120.00n/a29
Feb ’27US$194.74
US$334.88
+71.96%
24.13%US$505.00US$188.00n/a31
Jan ’27US$226.14
US$363.84
+60.89%
21.96%US$510.00US$188.00n/a30
Dec ’26US$259.84
US$383.46
+47.57%
19.49%US$510.00US$205.00n/a27
Nov ’26US$343.78
US$382.56
+11.28%
19.82%US$510.00US$185.00n/a29
Oct ’26US$346.17
US$376.56
+8.78%
21.76%US$510.00US$185.00n/a28
Sep ’26US$304.54
US$372.48
+22.31%
22.53%US$510.00US$185.00US$176.8228
Aug ’26US$314.69
US$367.85
+16.89%
24.01%US$510.00US$185.00US$146.2629
Jul ’26US$335.33
US$290.82
-13.27%
31.16%US$510.00US$170.00US$159.2430
Jun ’26US$246.62
US$263.09
+6.68%
24.91%US$400.00US$170.00US$182.6127
May ’26US$201.30
US$265.59
+31.94%
28.59%US$400.00US$169.00US$191.2527
Apr ’26US$174.52
US$318.12
+82.28%
23.12%US$475.00US$170.00US$172.9925
Mar ’26US$215.62
US$329.54
+52.83%
19.91%US$475.00US$170.00US$175.8524
Feb ’26US$291.33
US$294.96
+1.25%
22.07%US$420.00US$150.00US$194.7424
Jan ’26US$248.30
US$292.28
+17.71%
24.11%US$420.00US$150.00US$226.1425
Dec ’25US$296.20
US$259.68
-12.33%
27.38%US$400.00US$150.00US$259.8425
Nov ’25US$182.88
US$237.04
+29.62%
22.62%US$350.00US$135.00US$343.7823
Oct ’25US$165.01
US$247.30
+49.87%
25.43%US$400.00US$135.00US$346.1723
Sep ’25US$183.36
US$250.00
+36.34%
24.52%US$400.00US$130.00US$304.5423
US$202
Fair Value
3.8% undervalued intrinsic discount
29
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/20 00:45
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Coinbase Global, Inc. is covered by 46 analysts. 28 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David KoningBaird
Robert BambergerBaird
Benjamin BudishBarclays