Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Price Target at $288.44

Coinbase Global, Inc. (NASDAQ:COIN) has received an average rating of “Hold” from the twenty analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $285.28.

Several analysts have weighed in on COIN shares. Oppenheimer boosted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Monness Crespi & Hardt upped their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a report on Friday, December 20th.

Coinbase Global Stock Down 0.5 %

Shares of NASDAQ:COIN opened at $258.78 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $287.26 and a 200 day simple moving average of $229.61. The firm has a market cap of $64.79 billion, a PE ratio of 44.16 and a beta of 3.59. Coinbase Global has a 12-month low of $114.51 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that Coinbase Global will post 4.44 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 328,483 shares of company stock worth $96,470,997. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Banco Santander S.A. raised its holdings in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $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 third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after buying an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global during the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC raised its holdings in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Coinbase Global during the 2nd quarter worth about $2,908,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.