Coinbase Global (NASDAQ:COIN) PT Lowered to $314.00

Coinbase Global (NASDAQ:COIN) had its target price reduced by research analysts at Oppenheimer from $377.00 to $314.00 in a research note issued to investors on Monday, The Fly reports. Oppenheimer’s price objective points to a potential upside of 113.18% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Piper Sandler reduced their price target on shares of Coinbase Global from $440.00 to $360.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Canaccord Genuity Group reduced their price target on shares of Coinbase Global from $342.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, February 25th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, April 8th. Zacks Investment Research lowered shares of Coinbase Global from a “hold” rating to a “sell” rating in a research report on Tuesday, April 12th. Finally, JMP Securities reduced their price target on shares of Coinbase Global from $405.00 to $394.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $311.95.

NASDAQ:COIN opened at $147.29 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $32.33 billion and a PE ratio of 10.22. The firm’s 50 day moving average is $180.40 and its 200 day moving average is $237.41. Coinbase Global has a 12 month low of $146.82 and a 12 month high of $368.90.

Coinbase Global (NASDAQ:COINGet Rating) last issued its earnings results on Thursday, February 24th. The cryptocurrency exchange reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $1.38. Coinbase Global had a net margin of 46.23% and a return on equity of 77.65%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $1.99 billion. The business’s revenue was up 325.6% compared to the same quarter last year. Research analysts predict that Coinbase Global will post 3.67 earnings per share for the current year.

In other news, insider Paul Grewal sold 1,207 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $173.87, for a total transaction of $209,861.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Large investors have recently modified their holdings of the company. Nikko Asset Management Americas Inc. raised its stake in Coinbase Global by 38.9% in the third quarter. Nikko Asset Management Americas Inc. now owns 4,758,975 shares of the cryptocurrency exchange’s stock worth $1,125,294,000 after buying an additional 1,333,733 shares in the last quarter. Morgan Stanley raised its stake in Coinbase Global by 173.6% in the third quarter. Morgan Stanley now owns 1,868,164 shares of the cryptocurrency exchange’s stock worth $424,970,000 after buying an additional 1,185,238 shares in the last quarter. IDG Technology Venture Investment IV LLC bought a new position in Coinbase Global in the fourth quarter worth about $431,538,000. BlackRock Inc. raised its stake in Coinbase Global by 261.9% in the fourth quarter. BlackRock Inc. now owns 1,563,152 shares of the cryptocurrency exchange’s stock worth $394,494,000 after buying an additional 1,131,275 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Coinbase Global in the fourth quarter worth about $337,747,000. 26.28% of the stock is owned by hedge funds and other institutional investors.

About Coinbase Global (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.

Featured Stories

The Fly logo

Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.