Coinbase Global (NASDAQ:COIN) Stock Rating Upgraded by Mizuho

Coinbase Global (NASDAQ:COIN) was upgraded by stock analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a $290.00 price objective on the cryptocurrency exchange’s stock, up from their prior price objective of $250.00. Mizuho’s target price would suggest a potential downside of 3.75% from the company’s current price.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Oppenheimer decreased their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. The Goldman Sachs Group dropped their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Coinbase Global Trading Up 3.5 %

NASDAQ COIN opened at $301.30 on Wednesday. Coinbase Global has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a market capitalization of $75.43 billion, a price-to-earnings ratio of 51.42 and a beta of 3.59. 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 firm’s fifty day moving average price is $288.26 and its 200 day moving average price is $235.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 return on equity of 14.81% and a net margin of 29.76%. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. On average, sell-side analysts expect that Coinbase Global will post 4.81 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now owns 18,525 shares of the company’s stock, valued at $4,631,250. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,205 shares of company stock valued at $112,487,737 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global in the 4th quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth about $32,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.