Coinbase Global (NASDAQ:COIN) Receives “Market Outperform” Rating from JMP Securities

Coinbase Global (NASDAQ:COIN)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a report released on Wednesday, Benzinga reports. They presently have a $320.00 price objective on the cryptocurrency exchange’s stock. JMP Securities’ price objective points to a potential upside of 92.15% from the stock’s current price.

A number of other brokerages have also commented on COIN. HC Wainwright decreased their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Finally, Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $246.44.

Coinbase Global Stock Down 0.7 %

Shares of NASDAQ COIN traded down $1.15 during trading on Wednesday, hitting $166.54. 4,075,162 shares of the company traded hands, compared to its average volume of 10,312,063. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The business’s fifty day moving average is $181.31 and its 200 day moving average is $215.01. The firm has a market capitalization of $40.90 billion, a price-to-earnings ratio of 33.27 and a beta of 3.35. Coinbase Global has a fifty-two week low of $70.42 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business posted ($0.42) EPS. The company’s revenue was up 104.8% on a year-over-year basis. Equities research analysts predict that Coinbase Global will post 3.96 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.70, for a total transaction of $344,550.00. Following the completion of the transaction, the chief operating officer now owns 196,471 shares in the company, valued at $45,129,388.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $229.70, for a total transaction of $344,550.00. Following the sale, the chief operating officer now owns 196,471 shares in the company, valued at $45,129,388.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,112 shares of company stock worth $20,596,024. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its holdings in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Coinbase Global in the first quarter worth about $32,000. Crewe Advisors LLC lifted its holdings in shares of 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 buying an additional 104 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Coinbase Global in the second quarter worth about $29,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

About Coinbase Global

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.