Recent Research Analysts’ Ratings Changes for Coinbase Global (COIN)

A number of firms have modified their ratings and price targets on shares of Coinbase Global (NASDAQ: COIN) recently:

  • 5/12/2022 – Coinbase Global had its price target lowered by analysts at Mizuho from $135.00 to $60.00.
  • 5/11/2022 – Coinbase Global was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating.
  • 5/11/2022 – Coinbase Global had its price target lowered by analysts at Needham & Company LLC from $360.00 to $173.00.
  • 5/11/2022 – Coinbase Global had its price target lowered by analysts at Canaccord Genuity Group Inc. from $275.00 to $120.00.
  • 5/11/2022 – Coinbase Global had its price target lowered by analysts at Wedbush from $160.00 to $100.00.
  • 5/11/2022 – Coinbase Global had its price target lowered by analysts at JMP Securities from $394.00 to $250.00.
  • 5/10/2022 – Coinbase Global had its price target lowered by analysts at DA Davidson from $225.00 to $160.00.
  • 5/4/2022 – Coinbase Global had its price target lowered by analysts at Mizuho from $150.00 to $135.00.
  • 4/27/2022 – Coinbase Global had its price target lowered by analysts at Wedbush from $380.00 to $160.00.
  • 4/26/2022 – Coinbase Global was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Coinbase is the largest U.S. cryptocurrency exchange, trading some 50 different digital assets. “
  • 4/22/2022 – Coinbase Global is now covered by analysts at Daiwa Capital Markets. They set a “buy” rating on the stock.
  • 4/18/2022 – Coinbase Global had its price target lowered by analysts at Oppenheimer Holdings Inc. from $377.00 to $314.00. They now have an “outperform” rating on the stock.
  • 4/12/2022 – Coinbase Global was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Coinbase is the largest U.S. cryptocurrency exchange, trading some 50 different digital assets. “
  • 4/12/2022 – Coinbase Global had its price target lowered by analysts at Mizuho from $190.00 to $150.00. They now have a “neutral” rating on the stock.
  • 4/8/2022 – Coinbase Global had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $250.00 to $240.00. They now have a “buy” rating on the stock.
  • 4/7/2022 – Coinbase Global had its price target lowered by analysts at JMP Securities from $405.00 to $394.00. They now have a “market outperform” rating on the stock.
  • 4/5/2022 – Coinbase Global had its price target lowered by analysts at Mizuho from $220.00 to $190.00. They now have a “neutral” rating on the stock.
  • 3/22/2022 – Coinbase Global had its price target lowered by analysts at Citigroup Inc. from $300.00 to $275.00. They now have a “buy” rating on the stock.

NASDAQ COIN traded up $3.00 during trading on Thursday, reaching $56.72. 1,338,390 shares of the company’s stock were exchanged, compared to its average volume of 6,012,601. The stock has a market cap of $12.45 billion and a P/E ratio of 3.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.61 and a current ratio of 1.61. The company has a 50 day moving average price of $153.72 and a two-hundred day moving average price of $219.37. Coinbase Global, Inc. has a 1 year low of $50.15 and a 1 year high of $368.90.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). Coinbase Global had a return on equity of 77.65% and a net margin of 46.23%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $3.05 earnings per share. The firm’s quarterly revenue was down 35.2% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 1.53 EPS for the current fiscal year.

In other news, insider Paul Grewal sold 1,207 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $173.87, for a total value of $209,861.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hancock Whitney Corp acquired a new position in Coinbase Global during the 1st quarter worth approximately $391,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Coinbase Global by 11.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,596 shares of the cryptocurrency exchange’s stock worth $4,669,000 after purchasing an additional 2,467 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Coinbase Global by 1.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 534,459 shares of the cryptocurrency exchange’s stock worth $102,105,000 after purchasing an additional 5,195 shares during the period. Cetera Advisor Networks LLC boosted its stake in shares of Coinbase Global by 9.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 9,792 shares of the cryptocurrency exchange’s stock worth $1,859,000 after acquiring an additional 852 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Coinbase Global by 31.4% during the 1st quarter. Cetera Advisors LLC now owns 6,276 shares of the cryptocurrency exchange’s stock worth $1,192,000 after acquiring an additional 1,501 shares in the last quarter. Institutional investors own 39.01% of the company’s stock.

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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