Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given a consensus rating of “Moderate Buy” by the twenty analysts that are covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $311.56.

COIN has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Mizuho cut their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Piper Sandler raised their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,069 shares of company stock worth $66,488,684 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the 3rd quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $35,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

NASDAQ COIN opened at $208.37 on Friday. The company has a 50-day moving average price of $269.37 and a 200-day moving average price of $240.48. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $52.90 billion, a P/E ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

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.