Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Coinbase Global (NASDAQ:COIN) had its price objective lifted by Keefe, Bruyette & Woods from $255.00 to $305.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 17.91% from the stock’s previous close.

Several other equities research analysts have also recently commented on COIN. Barclays boosted their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. HC Wainwright boosted their price target on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $303.94.

Coinbase Global Stock Down 2.3 %

Coinbase Global stock opened at $258.67 on Tuesday. The company has a 50 day moving average of $278.39 and a 200-day moving average of $239.35. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75. The stock has a market capitalization of $64.76 billion, a PE ratio of 27.23 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities research analysts anticipate that Coinbase Global will post 4.56 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 336,143 shares of company stock worth $97,842,603 in the last ninety days. 23.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the stock. Cache Advisors LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth $1,587,000. CTC Alternative Strategies Ltd. bought a new stake in Coinbase Global during the fourth quarter worth about $928,000. Sunbelt Securities Inc. grew its stake in Coinbase Global by 14.9% during the fourth quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange’s stock worth $204,000 after buying an additional 104 shares in the last quarter. Alpine Global Management LLC acquired a new stake in Coinbase Global during the fourth quarter worth about $640,000. Finally, Vise Technologies Inc. increased its holdings in Coinbase Global by 56.1% in the 4th quarter. Vise Technologies Inc. now owns 3,930 shares of the cryptocurrency exchange’s stock valued at $976,000 after buying an additional 1,413 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.