Coinbase Global (NASDAQ:COIN) Price Target Raised to $420.00 at Needham & Company LLC

Coinbase Global (NASDAQ:COIN) had its price target boosted by Needham & Company LLC from $375.00 to $420.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Other research analysts also recently issued research reports about the company. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Oppenheimer raised their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Monness Crespi & Hardt started coverage on Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Mizuho boosted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.22.

Coinbase Global Price Performance

Shares of COIN stock opened at $310.52 on Monday. The firm has a market cap of $77.74 billion, a price-to-earnings ratio of 52.99 and a beta of 3.56. Coinbase Global has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $245.35 and a 200 day moving average price of $222.92.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. Research analysts expect that Coinbase Global will post 4.44 EPS for the current year.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,386,983.38. This trade represents a 42.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,220 shares of company stock valued at $80,030,608. 23.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Coinbase Global Company Profile

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.