Coinbase Global (NASDAQ:COIN) had its price objective increased by equities researchers at Piper Sandler from $245.00 to $285.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the cryptocurrency exchange’s stock. Piper Sandler’s target price would suggest a potential downside of 0.96% from the company’s current price.
COIN has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Mizuho lifted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Barclays increased their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Oppenheimer increased their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $288.44.
Read Our Latest Analysis on COIN
Coinbase Global Stock Performance
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. As a group, equities research analysts forecast that Coinbase Global will post 4.44 EPS for the current fiscal year.
Insider Transactions at Coinbase Global
In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total value 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. This trade represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 280,641 shares of company stock worth $83,504,173 over the last 90 days. 23.43% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Coinbase Global
Several institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the third quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at about $32,000. Brown Brothers Harriman & Co. increased its stake in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after purchasing an additional 181 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Coinbase Global during the third quarter worth approximately $55,000. 68.84% of the stock is owned by hedge funds and other 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.
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