Barclays Issues Positive Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price objective raised by Barclays from $204.00 to $355.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the cryptocurrency exchange’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer increased their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Finally, B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $276.22.

Coinbase Global Stock Down 9.6 %

COIN stock opened at $310.52 on Monday. The stock has a 50-day simple moving average of $245.35 and a two-hundred day simple moving average of $222.92. Coinbase Global has a twelve month low of $114.51 and a twelve month high of $349.75. The firm has a market capitalization of $77.74 billion, a PE ratio of 52.99 and a beta of 3.56. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction 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 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 400 shares of Coinbase Global stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 272,220 shares of company stock worth $80,030,608 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

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