Coinbase Global (NASDAQ:COIN) PT Raised to $240.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its target price increased by analysts at Keefe, Bruyette & Woods from $230.00 to $240.00 in a report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 7.50% from the company’s current price.

Several other research analysts have also weighed in on the company. Citigroup upped their target price on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. increased their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Wedbush increased their price objective on Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 16th. JMP Securities reissued a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Finally, Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $185.48.

Coinbase Global Trading Down 2.4 %

Shares of COIN opened at $223.25 on Friday. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The business’s 50-day moving average price is $236.37 and its 200 day moving average price is $165.79.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the prior year, the company earned ($2.46) EPS. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. Analysts expect that Coinbase Global will post 2.71 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the sale, the director now owns 4,833 shares in the company, valued at approximately $1,256,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the transaction, the director now owns 4,833 shares in the company, valued at approximately $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the transaction, the chief operating officer now owns 213,851 shares of the company’s stock, valued at approximately $45,977,965. The disclosure for this sale can be found here. In the last quarter, insiders sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its holdings in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Mather Group LLC. bought a new position in Coinbase Global in the 1st quarter worth approximately $32,000. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth $26,000. Finally, Creekmur Asset Management LLC bought a new position in Coinbase Global in the 4th quarter valued at $27,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.