Wells Fargo Initiates Coverage of Coinbase Global at Equal-Weight
Fintel reports that on October 2, 2026, Wells Fargo initiated coverage of Coinbase Global (NASDAQGS:COIN) (SWX:COIN) with a Equal-Weight recommendation.
Coinbase Global, Inc. is a prominent financial platform based in the United States, primarily engaged in the business of digital currency exchange. Founded in 2012, the company offers a secure online platform for buying, selling, transferring, and storing digital currency.
On October 2, 2026, the latest close for the stock was $183.00, following a pre-action close of $189.29 on October 1, 2026. The stock experienced a price change of -6.21% over one week, relative to a baseline close of $195.11 on September 25, 2026. Over a one-month period, the price change was +4.60% from a baseline close of $174.96 on September 2, 2026.
Coinbase Global last reported earnings on July 30, 2026, with an actual EPS of -1.17 compared to the estimated EPS of -0.1735. The actual revenue for that period was $1,220,068,000.00, which was below the estimated revenue of $1,337,471,491.00. The company's upcoming earnings date is scheduled for October 29, 2026, during the after market close session.
Separate from Wells Fargo's individual rating, the current consensus target mean for the stock was $214.57 as of September 14, 2026, representing an implied change of +17.25%. The current consensus target median was $207.06 as of the same date. This is an increase from the prior consensus target mean of $208.57 recorded on August 28, 2026, reflecting a consensus target revision of +2.88%.
For the current recommendation period of September 1, 2026, the total number of recommendations was 45, consisting of 11 strong buy, 21 buy, 10 hold, 1 sell, and 2 strong sell ratings. This represents 71.1% positive, 22.2% hold, and 6.7% negative recommendations. In the prior period of August 1, 2026, there were 44 total recommendations, with 11 strong buy, 20 buy, 10 hold, 1 sell, and 2 strong sell ratings.
On the same day as the Wells Fargo initiation, October 2, 2026, Piper Sandler maintained its Neutral rating on the stock. Other recent rating actions include Keefe, Bruyette & Woods reiterating an Outperform rating on September 28, 2026, and Baird maintaining a Neutral rating on September 28, 2026. BTIG reiterated a Buy rating on September 16, 2026. Compass Point upgraded the stock from Sell to Neutral on September 14, 2026, and Morgan Stanley initiated coverage with an Equal-Weight rating on September 10, 2026.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| October 2, 2026 | Wells Fargo | Equal-Weight | initiated coverage | |
| October 2, 2026 | Piper Sandler | Neutral | Neutral | maintained |
| September 28, 2026 | Keefe, Bruyette & Woods | Outperform | reiterated | |
| September 28, 2026 | Baird | Neutral | Neutral | maintained |
| September 16, 2026 | BTIG | Buy | Buy | reiterated |
| September 14, 2026 | Compass Point | Sell | Neutral | upgrade |
| September 10, 2026 | Morgan Stanley | Equal-Weight | initiated coverage |
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.