Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

Equity Bottom-Up

<ul>
<li>Coinbase's recent plunge might make this crypto exchange look like a tempting buy, but don’t assume it’s a bargain just yet.</li>
<li>Regulatory clarity is key for wider crypto adoption,  and the new administration is likely to approve stablecoin and market structure laws later this year.</li>
<li>To justify a higher valuation, the firm needs to build a more diverse and stable revenue stream that's less dependent on transaction fees from trading.</li>
</ul>


Coinbase's recent plunge might make this crypto exchange look like a tempting buy, but don’t assume it’s a bargain just yet.
Regulatory clarity is key for wider crypto adoption,  and the new administration is likely to approve stablecoin and market structure laws later this year.
To justify a higher valuation, the firm needs to build a more diverse and stable revenue stream that's less dependent on transaction fees from trading.


Coinbase’s Steep Drop Might Make It Interesting, But It Hasn’t Made It Cheap

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Coinbase Global, Inc. reported substantial growth in its 2024 financial results, showing significant strategic progress and adaptability in the rapidly evolving cryptocurrency landscape.</li><li>The company achieved over $6.6 billion in total revenue, more than doubling from the previous year, along with $3.3 billion in adjusted EBITDA.</li><li>This affirmative financial trajectory marks two consecutive years of positive adjusted EBITDA, reinforcing its transition into a resilient company that performs in diverse market conditions.</li></ul>

Coinbase Global, Inc. reported substantial growth in its 2024 financial results, showing significant strategic progress and adaptability in the rapidly evolving cryptocurrency landscape.The company achieved over $6.6 billion in total revenue, more than doubling from the previous year, along with $3.3 billion in adjusted EBITDA.This affirmative financial trajectory marks two consecutive years of positive adjusted EBITDA, reinforcing its transition into a resilient company that performs in diverse market conditions.

Coinbase Global Inc.: The Bitcoin ETF Boom That’s Reshaping Crypto Investing!

Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Fintech & EM-focused Analyst

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>Coinbase has managed to weather the crypto winter well by reporting net profits consecutively for 4 quarters.</li>
<li>Its share price has shot up recently as the whole crypto market became exuberant, thanks to Trump's re-election, but still below the IPO debut price of $381.</li>
<li>Our thesis remains the same as when the stock was trading as low as ~$68 in May 2022: Coinbase to become an indispensable platform for Web 3, esp. first-time users.</li>
</ul>


Coinbase has managed to weather the crypto winter well by reporting net profits consecutively for 4 quarters.
Its share price has shot up recently as the whole crypto market became exuberant, thanks to Trump's re-election, but still below the IPO debut price of $381.
Our thesis remains the same as when the stock was trading as low as ~$68 in May 2022: Coinbase to become an indispensable platform for Web 3, esp. first-time users.


2025 High Conviction: Coinbase - What Doesn't Kill You, Makes You Stronger

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Thematic (Sector/Industry)

Key points (machine generated)<ul><li>The strategy involves buying put options on low-priced PARC stocks (Palantir, Applovin, Robinhood, Coin) for potential high returns.</li><li>Investors are advised to allocate 1.5 to 2% of their portfolio to these puts to hedge against market downturns.</li><li>This method allows for a one-way bet with limited loss exposure, effectively de-risking the portfolio without directly targeting the stocks.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)The strategy involves buying put options on low-priced PARC stocks (Palantir, Applovin, Robinhood, Coin) for potential high returns.Investors are advised to allocate 1.5 to 2% of their portfolio to these puts to hedge against market downturns.This method allows for a one-way bet with limited loss exposure, effectively de-risking the portfolio without directly targeting the stocks.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Parc Stocks (PARC) - Thursday, Aug 7, 2025

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Bullish US will offer 20.3 million shares at $28-$31 and is scheduled to debut on Wednesday (8/13). </li>
<li>BlackRock, Inc., and ARK Investment Management, LLC and/or its affiliated entitiesindicated an interest in purchasing up to an aggregate of $200 million in this offering. </li>
<li>A combination of highly-notable existing shareholder base, anchor orders and tailwinds from the industry will likely have this IPO in high demand. </li>
</ul>


Bullish US will offer 20.3 million shares at $28-$31 and is scheduled to debut on Wednesday (8/13). 
BlackRock, Inc., and ARK Investment Management, LLC and/or its affiliated entitiesindicated an interest in purchasing up to an aggregate of $200 million in this offering. 
A combination of highly-notable existing shareholder base, anchor orders and tailwinds from the industry will likely have this IPO in high demand. 


Bullish US LLC (BLSH): Global Digital Asset Platform Sets Terms Seeking up to $4.2b IPO Valuation

United States

Coinbase Global, Inc. provides financial solutions. The Company offers platform to buy and sell cryptocurrencies. Coinbase Global serves clients worldwide.

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Coinbase Global (COIN US)

Coinbase’s Steep Drop Might Make It Interesting, But It Hasn’t Made It Cheap

Coinbase's share price has tumbled over the past month – dropping alongside US stocks and crypto. Despite the fall, the crypto market will need to...

Finimize Research

Coinbase Global Inc.: The Bitcoin ETF Boom That’s Reshaping Crypto Investing!

Coinbase Global, Inc. reported substantial growth in its 2024 financial results, showing significant strategic progress and adaptability in the...

Baptista Research

2025 High Conviction: Coinbase - What Doesn't Kill You, Makes You Stronger

Coinbase has weathered the crypto winter extremely well. Our thesis remains more or less the same as when we were equally bullish on the stock when...

Alec Tseung

Parc Stocks (PARC) - Thursday, Aug 7, 2025

The strategy suggests buying put options on low-priced PARC stocks to hedge against downturns, potentially yielding significant returns if they...

Value Investors Club (VIC)

Bullish US LLC (BLSH): Global Digital Asset Platform Sets Terms Seeking up to $4.2b IPO Valuation

Bullish US set to debut with 20.3 million shares at $28-$31, attracting interest from BlackRock and ARK Investment Management. High demand...

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Coinbase’s Steep Drop Might Make It Interesting, But It Hasn’t Made It Cheap

Coinbase's share price has tumbled over the past month – dropping alongside US stocks and crypto. Despite the fall, the crypto market will need to...

Finimize Research

Coinbase Global Inc.: The Bitcoin ETF Boom That’s Reshaping Crypto Investing!

Coinbase Global, Inc. reported substantial growth in its 2024 financial results, showing significant strategic progress and adaptability in the...

Baptista Research

2025 High Conviction: Coinbase - What Doesn't Kill You, Makes You Stronger

Coinbase has weathered the crypto winter extremely well. Our thesis remains more or less the same as when we were equally bullish on the stock when...

Alec Tseung

Parc Stocks (PARC) - Thursday, Aug 7, 2025

The strategy suggests buying put options on low-priced PARC stocks to hedge against downturns, potentially yielding significant returns if they...

Value Investors Club (VIC)

Bullish US LLC (BLSH): Global Digital Asset Platform Sets Terms Seeking up to $4.2b IPO Valuation

​Bullish US set to debut with 20.3 million shares at $28-$31, attracting interest from BlackRock and ARK Investment Management. High demand...

IPO Boutique

Bullish US set to debut with 20.3 million shares at $28-$31, attracting interest from BlackRock and ARK Investment Management. High demand...