Coinbase Global, Inc. (NASDAQ:COIN) Receives $246.06 Consensus Target Price from Analysts

Coinbase Global, Inc. (NASDAQ:COIN) has been given a consensus recommendation of “Hold” by the eighteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $246.44.

Several analysts have issued reports on the company. Compass Point lowered their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at $16,784,221.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the transaction, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,112 shares of company stock worth $20,596,024 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the company. Fulton Bank N.A. grew its position in Coinbase Global by 1.9% during the 3rd quarter. Fulton Bank N.A. now owns 5,425 shares of the cryptocurrency exchange’s stock worth $967,000 after acquiring an additional 103 shares during the last quarter. Miracle Mile Advisors LLC grew its position in Coinbase Global by 18.1% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,381 shares of the cryptocurrency exchange’s stock worth $246,000 after acquiring an additional 212 shares during the last quarter. Smith Anglin Financial LLC grew its position in Coinbase Global by 42.5% during the 3rd quarter. Smith Anglin Financial LLC now owns 2,296 shares of the cryptocurrency exchange’s stock worth $409,000 after acquiring an additional 685 shares during the last quarter. Handelsbanken Fonder AB grew its position in Coinbase Global by 3.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 38,131 shares of the cryptocurrency exchange’s stock worth $6,794,000 after acquiring an additional 1,213 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Coinbase Global by 53.5% during the 3rd quarter. Park Avenue Securities LLC now owns 1,913 shares of the cryptocurrency exchange’s stock worth $341,000 after acquiring an additional 667 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $168.92 on Tuesday. The business’s fifty day simple moving average is $183.75 and its 200 day simple moving average is $216.28. The firm has a market capitalization of $41.48 billion, a P/E ratio of 33.72 and a beta of 3.35. Coinbase Global has a 12 month low of $70.42 and a 12 month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51.

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

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.