Coinbase Global (NASDAQ:COIN) Issues Quarterly Earnings Results, Beats Estimates By $2.93 EPS

Coinbase Global, Inc. (NASDAQ:COIN) issued its quarterly earnings data on Thursday. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93, Zacks reports. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%.

Coinbase Global Price Performance

Shares of COIN traded down $21.97 during mid-day trading on Friday, reaching $276.14. 11,562,792 shares of the stock traded hands, compared to its average volume of 8,312,529. The company has a market cap of $69.13 billion, a price-to-earnings ratio of 47.32 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a fifty day moving average price of $282.36 and a 200 day moving average price of $237.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods reduced their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday. HC Wainwright increased their price objective on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $301.17.

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total value of $447,465.00. Following the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at $24,441,474.60. The trade was a 8.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 386,798 shares of company stock worth $114,707,944. 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.