Coinbase Global’s (COIN) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Coinbase Global (NASDAQ:COIN) in a report released on Friday, Benzinga reports. They currently have a $320.00 price target on the cryptocurrency exchange’s stock.

Several other equities research analysts have also commented on COIN. Wedbush boosted their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Friday. Raymond James raised shares of Coinbase Global from an underperform rating to a market perform rating in a research note on Tuesday, March 12th. Needham & Company LLC cut their price objective on shares of Coinbase Global from $275.00 to $260.00 and set a buy rating for the company in a research report on Friday. HC Wainwright raised their price objective on Coinbase Global from $250.00 to $300.00 and gave the stock a buy rating in a report on Monday, April 29th. Finally, Piper Sandler upped their target price on Coinbase Global from $225.00 to $245.00 and gave the company a neutral rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $192.60.

Coinbase Global Stock Down 2.4 %

COIN stock opened at $223.25 on Friday. Coinbase Global has a one year low of $46.43 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $236.37 and a 200-day moving average of $167.06. The stock has a market capitalization of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46.

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

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Alesia J. Haas sold 64,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares in the company, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction 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 directly owns 66,122 shares in the company, valued at $12,585,661.48. The disclosure for this sale can be found here. In the last three months, insiders sold 420,597 shares of company stock valued at $86,053,862. Company insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

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