Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $311.56.

A number of equities research analysts recently commented on the stock. Mizuho lowered their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Piper Sandler raised their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th.

Coinbase Global Stock Down 2.2 %

Shares of NASDAQ:COIN opened at $208.37 on Friday. Coinbase Global has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $269.37 and its 200-day moving average price is $240.48. The stock has a market capitalization of $52.90 billion, a P/E ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Activity

In related news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, 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 237,069 shares of company stock worth $66,488,684. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently made changes to their positions in COIN. Assenagon Asset Management S.A. boosted its stake in Coinbase Global by 36.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after purchasing an additional 952 shares during the last quarter. abrdn plc lifted its holdings in shares of Coinbase Global by 625.1% during the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock valued at $6,198,000 after purchasing an additional 29,990 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of Coinbase Global by 104.4% during the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 1,005 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in Coinbase Global by 16,928.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock worth $637,000 after buying an additional 3,555 shares in the last quarter. Finally, Golden State Equity Partners raised its position in Coinbase Global by 2.5% in the 3rd quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange’s stock worth $514,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors 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.