Piper Sandler Raises Coinbase Global (NASDAQ:COIN) Price Target to $310.00

Coinbase Global (NASDAQ:COIN) had its target price boosted by investment analysts at Piper Sandler from $285.00 to $310.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the cryptocurrency exchange’s stock. Piper Sandler’s target price points to a potential upside of 13.01% from the company’s current price.

Several other equities research analysts also recently weighed in on COIN. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and increased their target price for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Oppenheimer dropped their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.17.

Coinbase Global Stock Performance

Coinbase Global stock opened at $274.31 on Friday. Coinbase Global has a 1-year low of $146.12 and a 1-year high of $349.75. 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 stock has a market cap of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61. The firm has a 50 day simple moving average of $280.97 and a 200-day simple moving average of $238.26.

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

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the transaction, the chief operating officer now owns 177,576 shares in the company, valued at approximately $52,972,696.56. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value 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 sold a total of 386,798 shares of company stock valued at $114,707,944 over the last three months. 23.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the third quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in 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. grew its position in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $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.