Coinbase Global, Inc. (NASDAQ:COIN) Receives $251.00 Average Target Price from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned an average recommendation of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $251.00.

Several brokerages recently issued reports on COIN. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. Monness Crespi & Hardt began coverage on Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Barclays upped their target price on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,129 shares of company stock worth $46,522,970 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Large investors have recently modified their holdings of the stock. APEIRON CAPITAL Ltd purchased a new position in Coinbase Global in the first quarter valued at $108,434,000. Sei Investments Co. boosted its stake in shares of Coinbase Global by 41.7% in the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock valued at $2,629,000 after buying an additional 2,920 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Coinbase Global by 80.0% during the first quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange’s stock worth $1,157,000 after buying an additional 1,941 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Coinbase Global by 53.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,499 shares of the cryptocurrency exchange’s stock worth $2,518,000 after buying an additional 3,306 shares during the period. Finally, UniSuper Management Pty Ltd raised its holdings in Coinbase Global by 108.3% in the first quarter. UniSuper Management Pty Ltd now owns 2,500 shares of the cryptocurrency exchange’s stock valued at $663,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $304.64 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 1 year low of $107.98 and a 1 year high of $341.75. The firm has a market capitalization of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. The business’s 50 day moving average price is $214.20 and its 200-day moving average price is $215.18.

Coinbase Global (NASDAQ:COIN) last announced its earnings results 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. As a group, equities research analysts expect that Coinbase Global will post 4.27 earnings per share for the current fiscal year.

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.