Coinbase Global (NASDAQ:COIN) Price Target Raised to $358.00

Coinbase Global (NASDAQ:COIN) had its price objective boosted by Oppenheimer from $265.00 to $358.00 in a report issued on Monday morning, Marketbeat reports. Oppenheimer currently has an outperform rating on the cryptocurrency exchange’s stock.

COIN has been the subject of a number of other reports. Needham & Company LLC boosted their price target on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 18th. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Compass Point reduced their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Mizuho boosted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $255.22.

Coinbase Global Trading Up 6.0 %

NASDAQ COIN opened at $310.98 on Monday. The company has a market capitalization of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34. 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 12 month low of $114.51 and a 12 month high of $341.75. The company’s fifty day moving average price is $219.83 and its two-hundred day moving average price is $216.55.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) EPS. As a group, research analysts predict that Coinbase Global will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at $12,750,015.60. This trade represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’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 value of $447,465.00. Following the completion of the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 239,219 shares of company stock worth $65,593,121. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Coinbase Global during the 3rd quarter valued at about $94,000. Virtu Financial LLC bought a new position in shares of Coinbase Global in the third quarter valued at $3,866,000. TD Private Client Wealth LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at $77,000. Sunbelt Securities Inc. boosted its stake in shares of Coinbase Global by 25.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock worth $124,000 after acquiring an additional 143 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Coinbase Global by 17.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange’s stock worth $517,000 after acquiring an additional 402 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

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.