Coinbase Global (NASDAQ:COIN) Receives “Market Outperform” Rating from JMP Securities

Coinbase Global (NASDAQ:COIN)‘s stock had its “market outperform” rating reissued by JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $320.00 target price on the cryptocurrency exchange’s stock. JMP Securities’ price objective suggests a potential upside of 92.15% from the stock’s previous close.

Several other brokerages have also recently issued reports on COIN. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays raised their target price on shares of Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday. HC Wainwright cut their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.44.

Coinbase Global Price Performance

NASDAQ COIN traded down $1.15 on Wednesday, reaching $166.54. 4,075,162 shares of the company’s stock traded hands, compared to its average volume of 10,312,063. Coinbase Global has a 12 month low of $70.42 and a 12 month high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day simple moving average of $181.31 and a 200 day simple moving average of $215.01. The stock has a market cap of $40.90 billion, a PE ratio of 33.27 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned ($0.42) earnings per share. The firm’s revenue was up 104.8% on a year-over-year basis. As a group, research analysts predict that Coinbase Global will post 3.96 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $115,883.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,112 shares of company stock valued at $20,596,024. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently bought and sold shares of COIN. LifePro Asset Management bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $2,493,000. CWM LLC grew its stake in shares of Coinbase Global by 4.4% during the 3rd quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock valued at $1,076,000 after purchasing an additional 253 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Coinbase Global by 1.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 325,154 shares of the cryptocurrency exchange’s stock valued at $57,933,000 after purchasing an additional 4,185 shares during the period. Fulton Bank N.A. grew its stake in shares of Coinbase Global by 1.9% during the 3rd quarter. Fulton Bank N.A. now owns 5,425 shares of the cryptocurrency exchange’s stock valued at $967,000 after purchasing an additional 103 shares during the period. Finally, Miracle Mile Advisors LLC grew its stake in shares of Coinbase Global by 18.1% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,381 shares of the cryptocurrency exchange’s stock valued at $246,000 after purchasing an additional 212 shares during the period. 68.84% of the stock is currently owned by institutional investors.

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.