Analysts Set Coinbase Global, Inc. (NASDAQ:COIN) Price Target at $276.22

Coinbase Global, Inc. (NASDAQ:COIN) has been given an average recommendation of “Hold” by the twenty brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $284.28.

A number of research analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Monness Crespi & Hardt increased their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer boosted their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Barclays lifted their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $273.92 on Friday. The business’s fifty day simple moving average is $267.14 and its 200 day simple moving average is $226.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global has a 12 month low of $114.51 and a 12 month high of $349.75. The firm has a market capitalization of $68.58 billion, a P/E ratio of 46.74 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last announced its 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 business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. As a group, analysts anticipate that Coinbase Global will post 4.44 EPS for the current year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. The trade was a 4.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at $12,750,015.60. The trade was a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,720 shares of company stock worth $79,787,248. Insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Geode Capital Management LLC increased its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $409,919,000. Cowen AND Company LLC raised its holdings in shares of Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 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.