Coinbase Global (NASDAQ:COIN) Price Target Raised to $375.00

Coinbase Global (NASDAQ:COIN) had its target price lifted by Needham & Company LLC from $290.00 to $375.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Several other research firms also recently weighed in on COIN. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. Finally, Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $251.00.

Coinbase Global Stock Down 1.4 %

COIN opened at $320.01 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a fifty-two week low of $101.34 and a fifty-two week high of $341.75. The stock has a fifty day moving average of $208.71 and a 200-day moving average of $214.04. The company has a market capitalization of $80.11 billion, a P/E ratio of 54.61 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. On average, equities analysts expect that Coinbase Global will post 4.27 EPS for the current year.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $188.94, for a total transaction of $283,410.00. Following the sale, the chief operating officer now directly owns 197,101 shares in the company, valued at approximately $37,240,262.94. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 194,091 shares of company stock worth $50,033,426 over the last quarter. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter worth about $25,000. Crewe Advisors LLC lifted its holdings in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory bought a new stake in shares of Coinbase Global during the second quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Coinbase Global during the 3rd quarter valued at about $32,000. 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.