Coinbase Global (NASDAQ:COIN) Announces Quarterly Earnings Results

Coinbase Global, Inc. (NASDAQ:COIN) posted its quarterly earnings data on Thursday. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93, Zacks reports. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%.

Coinbase Global Price Performance

NASDAQ:COIN traded up $23.21 during mid-day trading on Thursday, hitting $298.11. 17,246,350 shares of the company’s stock traded hands, compared to its average volume of 8,102,175. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a market cap of $74.63 billion, a PE ratio of 50.87 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50 day simple moving average is $282.81 and its 200 day simple moving average is $237.46.

Analyst Ratings Changes

COIN has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday. The Goldman Sachs Group cut their price target on 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 lifted their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. HC Wainwright upped their price objective on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $286.00.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the sale, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock worth $114,707,944 over the last ninety days. 23.43% of the stock is currently owned by insiders.

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.