Oppenheimer Boosts Coinbase Global (NASDAQ:COIN) Price Target to $282.00

Coinbase Global (NASDAQ:COIN) had its price target raised by Oppenheimer from $276.00 to $282.00 in a research report sent to investors on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the cryptocurrency exchange’s stock.

COIN has been the subject of several other reports. Raymond James upgraded shares of Coinbase Global from an underperform rating to a market perform rating in a research report on Tuesday, March 12th. HC Wainwright upped their price objective on Coinbase Global from $250.00 to $300.00 and gave the stock a buy rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $230.00 to $240.00 and gave the company a market perform rating in a report on Friday. The Goldman Sachs Group reduced their price target on Coinbase Global from $295.00 to $255.00 and set a neutral rating for the company in a research report on Friday. Finally, Mizuho lifted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an underperform rating in a research report on Friday, April 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of Hold and an average target price of $193.85.

Coinbase Global Price Performance

Shares of COIN opened at $226.93 on Friday. The firm has a market cap of $54.98 billion, a PE ratio of 45.30 and a beta of 3.46. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $236.37 and a two-hundred day simple moving average of $167.06.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Coinbase Global’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.46) earnings per share. On average, equities analysts anticipate that Coinbase Global will post 2.71 EPS for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at $45,977,965. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock valued at $86,053,862 over the last 90 days. 33.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Coinbase Global by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after purchasing an additional 408,046 shares during the period. Morgan Stanley raised its holdings in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the period. Norges Bank bought a new stake in shares of Coinbase Global during the 4th quarter worth approximately $202,936,000. Northern Trust Corp boosted its holdings in Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after acquiring an additional 37,019 shares during the period. Finally, a16z Perennial Management L.P. bought a new position in Coinbase Global in the 4th quarter valued at $147,646,000. 68.84% of the stock is owned by hedge funds and other 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.