Coinbase Global (COIN) Set to Announce Earnings on Thursday

Coinbase Global (NASDAQ:COIN) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, August 1st. Analysts expect Coinbase Global to post earnings of $1.10 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, analysts expect Coinbase Global to post $5 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Coinbase Global Price Performance

Shares of COIN stock traded up $3.39 during trading hours on Tuesday, hitting $237.59. 771,068 shares of the company’s stock were exchanged, compared to its average volume of 11,289,924. The company has a market capitalization of $58.34 billion, a PE ratio of 46.75 and a beta of 3.40. Coinbase Global has a 12-month low of $69.63 and a 12-month high of $283.48. The business’s 50 day simple moving average is $235.48 and its 200-day simple moving average is $212.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Singular Research reissued a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Sanford C. Bernstein raised their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Barclays cut their target price on shares of Coinbase Global from $204.00 to $196.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. HC Wainwright restated a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a report on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $237.50.

Insider Activity

In other news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $224.13, for a total transaction of $5,171,799.75. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $117,892.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $117,892.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,176 shares of company stock worth $60,913,978. Corporate insiders own 23.43% of the company’s stock.

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.