Coinbase Global (NASDAQ:COIN) Given New $78.00 Price Target at JPMorgan Chase & Co.

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by JPMorgan Chase & Co. from $64.00 to $78.00 in a research note issued to investors on Wednesday morning, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the cryptocurrency exchange’s stock.

Other analysts have also issued research reports about the company. Citigroup cut their price objective on Coinbase Global from $115.00 to $105.00 and set a buy rating for the company in a report on Friday, August 5th. Redburn Partners downgraded Coinbase Global from a buy rating to a neutral rating in a research report on Thursday, June 23rd. Atlantic Securities lifted their target price on Coinbase Global from $54.00 to $67.00 and gave the company a neutral rating in a research report on Tuesday, September 6th. Moffett Nathanson lowered their target price on Coinbase Global from $600.00 to $200.00 and set a buy rating on the stock in a research report on Tuesday, May 24th. Finally, JMP Securities lowered their target price on Coinbase Global from $205.00 to $195.00 and set a market outperform rating on the stock in a research report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $164.14.

Coinbase Global Stock Up 4.6 %

Coinbase Global stock opened at $78.70 on Wednesday. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of -38.96 and a beta of 3.31. The stock has a fifty day simple moving average of $71.54 and a two-hundred day simple moving average of $100.44. Coinbase Global has a 12 month low of $40.83 and a 12 month high of $368.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58.

Coinbase Global (NASDAQ:COINGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) EPS for the quarter, missing the consensus estimate of ($3.04) by ($1.91). Coinbase Global had a negative return on equity of 4.61% and a negative net margin of 4.79%. The firm had revenue of $808.33 million during the quarter, compared to the consensus estimate of $877.32 million. Equities analysts predict that Coinbase Global will post -11.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,177 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $72.00, for a total transaction of $156,744.00. Following the sale, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at $1,974,024. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Jennifer N. Jones sold 2,177 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $72.00, for a total transaction of $156,744.00. Following the transaction, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at $1,974,024. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer N. Jones sold 4,512 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $97.24, for a total value of $438,746.88. Following the transaction, the chief accounting officer now directly owns 27,417 shares in the company, valued at approximately $2,666,029.08. The disclosure for this sale can be found here. Insiders have purchased 24,601 shares of company stock valued at $1,863,254 over the last ninety days. 36.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Huntington National Bank grew its stake in shares of Coinbase Global by 346.4% during the first quarter. Huntington National Bank now owns 683 shares of the cryptocurrency exchange’s stock valued at $130,000 after buying an additional 530 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in Coinbase Global by 10.5% in the first quarter. Gladstone Institutional Advisory LLC now owns 2,638 shares of the cryptocurrency exchange’s stock worth $501,000 after purchasing an additional 250 shares in the last quarter. Brown Advisory Inc. grew its stake in Coinbase Global by 15.2% in the first quarter. Brown Advisory Inc. now owns 15,880 shares of the cryptocurrency exchange’s stock worth $3,015,000 after purchasing an additional 2,093 shares in the last quarter. Toronto Dominion Bank grew its stake in Coinbase Global by 25.6% in the first quarter. Toronto Dominion Bank now owns 12,627 shares of the cryptocurrency exchange’s stock worth $2,397,000 after purchasing an additional 2,573 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Coinbase Global by 24.9% in the fourth quarter. Squarepoint Ops LLC now owns 25,820 shares of the cryptocurrency exchange’s stock worth $6,516,000 after purchasing an additional 5,140 shares in the last quarter. Institutional investors own 49.31% of the company’s stock.

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 Articles

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.