Recent Investment Analysts’ Ratings Updates for Coinbase Global (COIN)

Coinbase Global (NASDAQ: COIN) has recently received a number of price target changes and ratings updates:

• 1/12/2023 – Coinbase Global had its price target lowered by analysts at Keefe, Bruyette & Woods from $37.00 to $32.00. They now have an “underperform” rating on the stock.
• 1/12/2023 – Coinbase Global had its price target raised by analysts at Barclays PLC from $37.00 to $45.00. They now have an “equal weight” rating on the stock.
• 1/11/2023 – Coinbase Global was downgraded by analysts at Bank of America Co. from a “neutral” rating to an “underperform” rating. They now have a $35.00 price target on the stock, down previously from $50.00.
• 1/11/2023 – Coinbase Global had its price target lowered by analysts at DA Davidson from $70.00 to $55.00. They now have a “buy” rating on the stock.
• 1/10/2023 – Coinbase Global had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $73.00 price target on the stock.
• 1/9/2023 – Coinbase Global had its price target lowered by analysts at Wells Fargo & Company from $55.00 to $33.00. They now have an “underweight” rating on the stock.
• 1/9/2023 – Coinbase Global had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $41.00 to $30.00. They now have a “sell” rating on the stock.
• 1/9/2023 – Coinbase Global had its price target lowered by analysts at JMP Securities from $155.00 to $80.00. They now have a “market outperform” rating on the stock.
• 1/9/2023 – Coinbase Global is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $35.00 price target on the stock.
• 1/5/2023 – Coinbase Global was downgraded by analysts at Cowen Inc. from an “outperform” rating to a “market perform” rating. They now have a $36.00 price target on the stock.
• 1/5/2023 – Coinbase Global was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating. They now have a $36.00 price target on the stock.
• 12/19/2022 – Coinbase Global had its price target lowered by analysts at Piper Sandler from $100.00 to $75.00. They now have an “overweight” rating on the stock.
• 12/19/2022 – Coinbase Global had its price target lowered by analysts at Barclays PLC from $44.00 to $37.00. They now have an “equal weight” rating on the stock.
• 12/12/2022 – Coinbase Global is now covered by analysts at KeyCorp. They set a “sector weight” rating on the stock.
• 12/9/2022 – Coinbase Global was downgraded by analysts at Mizuho from a “neutral” rating to an “underperform” rating. They now have a $30.00 price target on the stock, down previously from $42.00.
• 12/5/2022 – Coinbase Global had its price target lowered by analysts at Atlantic Securities from $67.00 to $46.00. They now have a “neutral” rating on the stock.
• 11/22/2022 – Coinbase Global had its price target lowered by analysts at Barclays PLC from $55.00 to $44.00. They now have an “equal weight” rating on the stock.
• 11/22/2022 – Coinbase Global had its price target lowered by analysts at Needham & Company LLC from $89.00 to $73.00. They now have a “buy” rating on the stock.

Coinbase Global Trading Down 7.3 %

NASDAQ:COIN opened at $50.21 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50-day moving average of $42.11 and a 200-day moving average of $59.40. The company has a market cap of $11.40 billion, a PE ratio of -8.27 and a beta of 2.16. Coinbase Global, Inc. has a one year low of $31.55 and a one year high of $232.00.

Coinbase Global (NASDAQ:COIN – Get Rating) last posted its earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.20). The business had revenue of $590.34 million for the quarter, compared to the consensus estimate of $642.76 million. Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. As a group, equities research analysts expect that Coinbase Global, Inc. will post -11.7 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 31,143 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $52.81, for a total value of $1,644,661.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Tobias Lutke acquired 5,573 shares of Coinbase Global stock in a transaction on Tuesday, October 25th. The stock was acquired at an average cost of $66.96 per share, with a total value of $373,168.08. Following the transaction, the director now owns 87,866 shares of the company’s stock, valued at approximately $5,883,507.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 31,143 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $52.81, for a total transaction of $1,644,661.83. The disclosure for this sale can be found here. Over the last three months, insiders acquired 101,543 shares of company stock valued at $4,498,300 and sold 560,244 shares valued at $23,892,552. 36.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COIN. Fairfield Bush & CO. grew its position in shares of Coinbase Global by 18.4% during the 1st quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after acquiring an additional 275 shares during the period. United Bank bought a new position in shares of Coinbase Global during the 1st quarter valued at approximately $286,000. Bank of New York Mellon Corp grew its position in shares of Coinbase Global by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock valued at $13,394,000 after acquiring an additional 1,844 shares during the period. American Century Companies Inc. grew its position in shares of Coinbase Global by 269.2% during the 1st quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after acquiring an additional 5,211 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Coinbase Global by 26.6% during the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after acquiring an additional 232 shares during the period. 46.41% of the stock is owned by institutional investors.

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.