Coinbase Global (NASDAQ:COIN) Earns “Neutral” Rating from Piper Sandler

Coinbase Global (NASDAQ:COIN)‘s stock had its “neutral” rating restated by equities research analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $245.00 target price on the cryptocurrency exchange’s stock. Piper Sandler’s price objective would suggest a potential upside of 33.97% from the company’s current price.

Several other research analysts have also commented on COIN. Citigroup upgraded shares of 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 research note on Tuesday, July 23rd. Barclays increased their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday. Mizuho boosted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $182.88 on Friday. Coinbase Global has a one year low of $80.81 and a one year high of $283.48. The business’s 50-day moving average price is $180.98 and its two-hundred day moving average price is $208.66. 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 company has a market capitalization of $45.44 billion, a P/E ratio of 31.21 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 15.38%. The company’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) EPS. Analysts anticipate that Coinbase Global will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. 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 through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 79,687 shares of company stock valued at $14,908,594 in the last ninety days. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Resolute Advisors LLC lifted its position in shares of Coinbase Global by 15.9% during the 3rd quarter. Resolute Advisors LLC now owns 8,230 shares of the cryptocurrency exchange’s stock worth $1,466,000 after buying an additional 1,130 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the period. Assetmark Inc. boosted its stake in shares of Coinbase Global by 76.6% in the 3rd quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock valued at $513,000 after purchasing an additional 1,249 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Coinbase Global by 7.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,140 shares of the cryptocurrency exchange’s stock worth $1,272,000 after purchasing an additional 518 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Coinbase Global during the 3rd quarter worth about $116,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.