Coinbase Global (NASDAQ:COIN) Price Target Raised to $285.00

Coinbase Global (NASDAQ:COIN) had its price target upped by Piper Sandler from $245.00 to $285.00 in a research note released on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the cryptocurrency exchange’s stock.

Several other research firms have also issued reports on COIN. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Finally, Mizuho raised their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $288.44.

Coinbase Global Trading Down 1.6 %

COIN stock opened at $260.01 on Tuesday. 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 company has a market cap of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. The business has a fifty day simple moving average of $285.74 and a 200-day simple moving average of $229.23. Coinbase Global has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business earned ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities research analysts expect that Coinbase Global will post 4.44 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. This trade represents a 68.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,483 shares of company stock worth $96,470,997. 23.43% of the stock is currently owned by insiders.

Institutional Trading of Coinbase Global

Hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $32,000. Brown Brothers Harriman & Co. boosted its position in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the period. Abich Financial Wealth Management LLC grew its stake in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Coinbase Global during the third quarter valued at $55,000. 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.