Mizuho Trims Coinbase Global (NASDAQ:COIN) Target Price to $135.00

Coinbase Global (NASDAQ:COIN) had its target price lowered by stock analysts at Mizuho from $150.00 to $135.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Mizuho’s price objective would suggest a potential upside of 9.26% from the stock’s previous close.

A number of other research firms have also weighed in on COIN. Piper Sandler lowered their price objective on shares of Coinbase Global from $440.00 to $360.00 and set an “overweight” rating for the company in a research note on Friday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of Coinbase Global from $345.00 to $296.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. The Goldman Sachs Group decreased 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. Wedbush decreased their price target on shares of Coinbase Global from $380.00 to $160.00 in a research report on Wednesday, April 27th. Finally, Daiwa Capital Markets initiated coverage on shares of Coinbase Global in a research report on Friday, April 22nd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Buy” and a consensus target price of $291.78.

NASDAQ:COIN opened at $123.56 on Wednesday. Coinbase Global has a 1-year low of $111.80 and a 1-year high of $368.90. The company has a 50-day moving average of $165.85 and a 200 day moving average of $228.32. The firm has a market cap of $27.12 billion and a PE ratio of 8.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.61 and a quick ratio of 1.61.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings data on Thursday, February 24th. The cryptocurrency exchange reported $3.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $1.37. Coinbase Global had a net margin of 46.23% and a return on equity of 77.65%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $1.99 billion. Coinbase Global’s revenue for the quarter was up 325.6% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global will post 1.53 EPS for the current fiscal 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. IDG Technology Venture Investment IV LLC purchased a new position in Coinbase Global during the 4th quarter worth approximately $431,538,000. Renaissance Technologies LLC purchased a new position in Coinbase Global during the 4th quarter worth approximately $337,747,000. Nikko Asset Management Americas Inc. raised its position in Coinbase Global by 38.9% during the 3rd 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 during the last quarter. Morgan Stanley raised its position in Coinbase Global by 173.6% during the 3rd 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 during the last quarter. Finally, BlackRock Inc. raised its position in Coinbase Global by 261.9% during the 4th 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 during the last quarter. 39.01% of the stock is owned by 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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