Coinbase Global, Inc. (NASDAQ:COIN) Receives $276.22 Consensus Target Price from Brokerages

by · The Markets Daily

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received a consensus rating of “Hold” from the twenty ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $286.22.

COIN has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Barclays lifted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Oppenheimer lifted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, Monness Crespi & Hardt upped their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday.

Get Our Latest Stock Report on Coinbase Global

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. This represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $3,386,983.38. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,720 shares of company stock valued at $79,787,248. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COIN. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Spirit of America Management Corp NY purchased a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $33,000. Continuum Advisory LLC increased its position in Coinbase Global by 3,000.0% during the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Coinbase Global during the second quarter valued at $35,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

COIN stock opened at $278.71 on Friday. The firm has a 50 day simple moving average of $269.18 and a two-hundred day simple moving average of $227.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $69.78 billion, a PE ratio of 47.56 and a beta of 3.57. Coinbase Global has a one year low of $114.51 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 78.8% on a year-over-year basis. On average, analysts predict that Coinbase Global will post 4.44 EPS for the current fiscal year.

Coinbase Global Company Profile

(Get Free Report

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.

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