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

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average rating of “Hold” from the eighteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $246.06.

COIN has been the subject of a number of research reports. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $206.00 to $169.00 in a report on Friday, September 6th. HC Wainwright cut their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd.

Coinbase Global Stock Performance

Coinbase Global stock opened at $178.17 on Tuesday. 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 cap of $43.75 billion, a P/E ratio of 35.56 and a beta of 3.36. Coinbase Global has a fifty-two week low of $70.41 and a fifty-two week high of $283.48. The firm’s 50 day simple moving average is $190.02 and its 200-day simple moving average is $218.43.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. As a group, equities research analysts predict that Coinbase Global will post 3.96 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.70, for a total value of $344,550.00. Following the transaction, the chief operating officer now directly owns 196,471 shares in the company, valued at approximately $45,129,388.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $229.70, for a total transaction of $344,550.00. Following the completion of the transaction, the chief operating officer now owns 196,471 shares of the company’s stock, valued at approximately $45,129,388.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $115,883.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,612 shares of company stock worth $20,326,489. 23.43% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

A number of hedge funds have recently bought and sold shares of the stock. Centaurus Financial Inc. increased its holdings in shares of Coinbase Global by 42.2% during the 2nd quarter. Centaurus Financial Inc. now owns 657 shares of the cryptocurrency exchange’s stock worth $146,000 after purchasing an additional 195 shares during the period. Lazari Capital Management Inc. lifted its position in shares of Coinbase Global by 8.5% in the 2nd quarter. Lazari Capital Management Inc. now owns 2,692 shares of the cryptocurrency exchange’s stock worth $598,000 after acquiring an additional 211 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $2,908,000. SRN Advisors LLC increased its position in shares of Coinbase Global by 10.9% during the second quarter. SRN Advisors LLC now owns 12,774 shares of the cryptocurrency exchange’s stock valued at $2,839,000 after purchasing an additional 1,259 shares during the period. Finally, Heritage Oak Wealth Advisors LLC acquired a new stake in Coinbase Global during the second quarter worth $462,000. 68.84% of the stock is owned by institutional investors.

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.