Coinbase Global (NASDAQ:COIN) Price Target Increased to $282.00 by Analysts at Oppenheimer

Coinbase Global (NASDAQ:COIN) had its target price lifted by Oppenheimer from $276.00 to $282.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the cryptocurrency exchange’s stock.

Other equities analysts have also issued reports about the stock. JMP Securities reaffirmed a market outperform rating on shares of Coinbase Global in a report on Friday, March 22nd. Citigroup increased their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a neutral rating in a research note on Friday, January 19th. Bank of America lifted their price target on Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a research note on Wednesday, April 10th. Raymond James raised Coinbase Global from an underperform rating to a market perform rating in a report on Tuesday, March 12th. Finally, Keefe, Bruyette & Woods upped their target price on Coinbase Global from $230.00 to $240.00 and gave the stock a market perform rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of Hold and an average target price of $192.60.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $223.25 on Friday. The company has a 50 day simple moving average of $236.37 and a two-hundred day simple moving average of $167.06. The stock has a market cap of $54.09 billion, a price-to-earnings ratio of 44.56 and a beta of 3.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48.

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

Insider Activity

In related news, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Kathryn Haun sold 1,758 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.41, for a total transaction of $368,142.78. Following the completion of the sale, the director now directly owns 95,630 shares in the company, valued at $20,025,878.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at $12,585,661.48. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock worth $86,053,862 over the last ninety days. Corporate insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fountainhead AM LLC grew its position in Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after acquiring an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares during the period. Nilsine Partners LLC increased its position in shares of Coinbase Global by 1.2% during the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after purchasing an additional 81 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after buying an additional 86 shares during the period. Finally, Concord Wealth Partners lifted its position in 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 buying an additional 87 shares during the last quarter. Institutional investors and hedge funds 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.