Coinbase Global (NASDAQ:COIN) PT Lowered to $150.00

Coinbase Global (NASDAQ:COIN) had its price objective decreased by equities research analysts at Mizuho from $190.00 to $150.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the cryptocurrency exchange’s stock. Mizuho’s target price would indicate a potential downside of 7.36% from the stock’s previous close.

A number of other brokerages also recently issued reports on COIN. Bank of America upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, January 6th. Piper Sandler dropped their price target on Coinbase Global from $440.00 to $360.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. The Goldman Sachs Group dropped their price target on Coinbase Global from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday. Zacks Investment Research downgraded Coinbase Global from a “hold” rating to a “sell” rating in a research report on Tuesday, March 1st. Finally, Canaccord Genuity Group dropped their target price on Coinbase Global from $342.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Buy” and a consensus target price of $327.91.

COIN stock traded up $8.04 during mid-day trading on Tuesday, reaching $161.91. 43,655 shares of the company traded hands, compared to its average volume of 3,982,154. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $35.54 billion and a P/E ratio of 11.21. Coinbase Global has a 52-week low of $150.12 and a 52-week high of $429.54. The company has a fifty day moving average price of $183.80 and a 200-day moving average price of $239.63.

Coinbase Global (NASDAQ:COINGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The cryptocurrency exchange reported $3.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.94 by $1.38. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $1.99 billion. Coinbase Global had a return on equity of 77.65% and a net margin of 46.23%. The business’s revenue for the quarter was up 325.6% on a year-over-year basis. As a group, analysts forecast that Coinbase Global will post 4.96 EPS for the current year.

In other news, insider Paul Grewal sold 1,207 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $173.87, for a total transaction of $209,861.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional investors and hedge funds have recently bought and sold shares of the company. Man Group plc increased its stake in shares of Coinbase Global by 101.9% during the third quarter. Man Group plc now owns 106,619 shares of the cryptocurrency exchange’s stock valued at $24,254,000 after buying an additional 53,800 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Coinbase Global by 5.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 53,958 shares of the cryptocurrency exchange’s stock valued at $13,617,000 after buying an additional 2,847 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in shares of Coinbase Global by 5,933.3% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 11,765 shares of the cryptocurrency exchange’s stock valued at $2,677,000 after buying an additional 11,570 shares during the period. Oppenheimer & Co. Inc. grew its stake in Coinbase Global by 69.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 21,572 shares of the cryptocurrency exchange’s stock worth $5,444,000 after purchasing an additional 8,864 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Coinbase Global by 31.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,878 shares of the cryptocurrency exchange’s stock worth $1,791,000 after purchasing an additional 1,893 shares during the period. 26.28% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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