Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Coinbase Global (NASDAQ:COIN) had its target price boosted by Oppenheimer from $265.00 to $358.00 in a report released on Monday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the cryptocurrency exchange’s stock. Oppenheimer’s target price suggests a potential upside of 22.06% from the stock’s current price.

COIN has been the subject of several other research reports. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Barclays upped their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $255.22.

Coinbase Global Stock Performance

COIN stock opened at $293.29 on Monday. 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 company has a 50 day moving average price of $217.21 and a 200 day moving average price of $215.90. Coinbase Global has a fifty-two week low of $112.18 and a fifty-two week high of $341.75. The stock has a market capitalization of $73.43 billion, a PE ratio of 50.05 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. Analysts forecast that Coinbase Global will post 4.27 EPS for the current year.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. This represents a 0.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,966 shares of company stock valued at $47,064,922. Company insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently modified their holdings of the business. Banco Santander S.A. boosted its stake in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $29,756,000. Lindbrook Capital LLC raised its holdings in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global in the 2nd quarter valued at about $2,908,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.