Coinbase Global (NASDAQ:COIN) Announces Earnings Results, Misses Estimates By $0.93 EPS

Coinbase Global, Inc. (NASDAQ:COIN) issued its quarterly earnings results on Thursday. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93), Briefing.com reports. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned ($0.42) earnings per share. The company’s revenue was up 104.8% on a year-over-year basis.

Coinbase Global Price Performance

Shares of COIN stock traded down $8.20 during mid-day trading on Friday, hitting $204.44. The company had a trading volume of 10,063,929 shares, compared to its average volume of 8,342,275. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The stock’s 50 day moving average price is $234.52 and its 200-day moving average price is $214.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $50.20 billion, a P/E ratio of 40.81 and a beta of 3.40.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $246.16, for a total value of $369,240.00. Following the transaction, the chief operating officer now owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $246.16, for a total transaction of $369,240.00. Following the sale, the chief operating officer now owns 207,471 shares of the company’s stock, valued at $51,071,061.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $212.08, for a total transaction of $3,473,870.40. Following the sale, the director now directly owns 4,662 shares in the company, valued at approximately $988,716.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,601 shares of company stock valued at $56,091,678. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Friday. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Oppenheimer lifted their target price on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Wedbush lifted their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Mizuho lifted their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $245.27.

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.