Bakkt: Cheap Valuation, But The Turnaround Still Needs Proof [Seeking Alpha]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: Seeking Alpha
BKKT has exited unprofitable segments, focusing on B2B digital asset infrastructure, but remains unprofitable with a 2025 operating loss of $132.2 million and a 1.15% gross margin. Shareholder dilution continues as BKKT raises capital to fund operations, with cash reserves covering only 12–15 months at current burn rates. Investment thesis hinges on BKKT achieving positive EBITDA, higher-margin recurring B2B revenues, and operational stability before warranting serious long-term consideration. Getty Images Introduction My view on the company is that it's a speculative company with a high risk. The cheap valuation that this company has alone is not enough; investors need to wait and see clear signs of a positive EBITDA, strong BKKT trades at a 0.05 P/S ratio, far below sector leaders like Coinbase (7.6x) and Robinhood (6.4x), reflecting concerns over revenue quality and persistent losses. Critical risks include ongoing operating losses, limited cash runway (12–15 months)
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High impacting Coinbase Global, Inc. - Class A news events
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COIN
News
- Crypto trade holds strong as bitcoin prices stay above $76K [Yahoo! Finance Canada]Yahoo! Finance Canada
- Grayscale Amends Hyperliquid ETF Filing, Replaces Coinbase With Anchorage as Custodian [Yahoo! Finance]Yahoo! Finance
- Coinbase Global Launches A.I. App Store [Yahoo! Finance]Yahoo! Finance
- Coinbase Launches USDC Borrowing for UK Users: Use Crypto Without Selling [Yahoo! Finance]Yahoo! Finance
- Coinbase Global (COIN) had its price target raised by Cantor Fitzgerald from $221.00 to $250.00. They now have an "overweight" rating on the stock.MarketBeat
COIN
Earnings
- 2/12/26 - Beat
COIN
Sec Filings
- 4/20/26 - Form 4
- 4/16/26 - Form 144
- 4/10/26 - Form 8-K
- COIN's page on the SEC website