Coinbase Global (COIN) – Research Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Coinbase Global (NASDAQ: COIN):

  • 5/26/2022 – Coinbase Global is now covered by analysts at Cowen Inc.. They set an “outperform” rating and a $85.00 price target on the stock.
  • 5/26/2022 – Coinbase Global is now covered by analysts at Cowen Inc. They set an “outperform” rating on the stock.
  • 5/24/2022 – Coinbase Global had its price target lowered by analysts at Moffett Nathanson from $600.00 to $200.00. They now have a “buy” rating on the stock.
  • 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.

NASDAQ COIN traded up $5.45 during trading hours on Monday, reaching $75.32. The stock had a trading volume of 472,402 shares, compared to its average volume of 7,655,672. The stock has a fifty day moving average of $128.97 and a 200 day moving average of $195.20. The stock has a market cap of $16.53 billion and a P/E ratio of 8.03. Coinbase Global, Inc. has a 52-week low of $40.83 and a 52-week high of $368.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.55 and a current ratio of 1.55.

Coinbase Global (NASDAQ:COINGet Rating) last issued its earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company earned $3.05 EPS. Coinbase Global’s quarterly revenue was down 35.2% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post -7.6 EPS for the current year.

In other Coinbase Global news, Director Frederick Ernest Ehrsam III bought 706,554 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average price of $70.77 per share, for a total transaction of $50,002,826.58. Following the transaction, the director now directly owns 706,554 shares of the company’s stock, valued at approximately $50,002,826.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 1,090 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $67.26, for a total value of $73,313.40. Following the transaction, the insider now owns 43,220 shares in the company, valued at approximately $2,906,977.20. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,121,844 shares of company stock worth $76,837,576.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westpac Banking Corp purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $449,000. Man Group plc increased its position in Coinbase Global by 101.9% during the third quarter. Man Group plc now owns 106,619 shares of the cryptocurrency exchange’s stock worth $24,254,000 after buying an additional 53,800 shares during the period. Essex Investment Management Co. LLC increased its position in Coinbase Global by 121.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 9,287 shares of the cryptocurrency exchange’s stock worth $2,344,000 after buying an additional 5,100 shares during the period. Commonwealth Equity Services LLC increased its position in Coinbase Global by 5.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 53,958 shares of the cryptocurrency exchange’s stock worth $13,617,000 after buying an additional 2,847 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in Coinbase Global by 69.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 21,572 shares of the cryptocurrency exchange’s stock worth $5,444,000 after buying an additional 8,864 shares during the period. Institutional investors and hedge funds 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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