Coinbase Global (COIN) Scheduled to Post Quarterly Earnings on Wednesday

Coinbase Global (NASDAQ:COIN) is set to release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Coinbase Global to post earnings of $0.34 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (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 during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm earned ($0.42) earnings per share. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. On average, analysts expect Coinbase Global to post $4 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Coinbase Global Stock Down 2.0 %

Shares of Coinbase Global stock opened at $205.04 on Monday. The firm has a market cap of $50.35 billion, a price-to-earnings ratio of 40.93 and a beta of 3.35. The stock’s 50-day moving average is $181.15 and its 200 day moving average is $209.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a one year low of $70.42 and a one year high of $283.48.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 16,962 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,187 shares of company stock valued at $13,158,294 in the last three months. 23.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Bank of America cut their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $242.82.

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.