Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Barclays Analyst Says

Coinbase Global (NASDAQ:COIN) had its price target raised by Barclays from $282.00 to $328.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s price objective points to a potential upside of 19.57% from the company’s previous close.

COIN has been the topic of several other reports. Monness Crespi & Hardt increased their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Oppenheimer decreased their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday. Finally, The Goldman Sachs Group lowered their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.17.

Coinbase Global Stock Performance

Shares of COIN opened at $274.31 on Friday. 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 market cap of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61. The business’s 50 day moving average price is $280.97 and its 200-day moving average price is $238.26. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Equities research analysts anticipate that Coinbase Global will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 386,798 shares of company stock valued at $114,707,944. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the third quarter valued at approximately $409,919,000. Norges Bank purchased a new position in shares of Coinbase Global during the 4th quarter valued at $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global in the 4th quarter worth $372,450,000. Proficio Capital Partners LLC boosted its holdings in Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares during the period. Finally, Geode Capital Management LLC increased its stake in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares in the last quarter. 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.