Barclays Boosts Coinbase Global (NASDAQ:COIN) Price Target to $204.00

Coinbase Global (NASDAQ:COIN) had its price target increased by analysts at Barclays from $179.00 to $204.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s price objective would suggest a potential downside of 4.82% from the company’s previous close.

Several other analysts also recently weighed in on COIN. Piper Sandler boosted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Mizuho raised their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Citigroup boosted their target price on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $193.85.

Coinbase Global Trading Down 5.5 %

Shares of NASDAQ:COIN opened at $214.34 on Monday. The company has a market cap of $51.93 billion, a PE ratio of 42.78 and a beta of 3.46. The company’s 50 day moving average is $237.03 and its two-hundred day moving average is $168.14. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 9.42% and a net margin of 33.98%. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period last year, the firm earned ($2.46) earnings per share. Coinbase Global’s quarterly revenue was up 51.6% on a year-over-year basis. Equities analysts predict that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $224.13, for a total value of $5,171,799.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $117,892.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $224.13, for a total value of $5,171,799.75. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $117,892.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,542 shares of company stock valued at $81,392,237. Insiders own 33.16% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently modified their holdings of COIN. Raymond James & Associates boosted its position in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $302,000. Mariner LLC grew its position in shares of Coinbase Global by 5.4% in the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after purchasing an additional 4,259 shares during the period. Itau Unibanco Holding S.A. increased its stake in Coinbase Global by 10.0% in the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after purchasing an additional 125 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in Coinbase Global during the fourth quarter worth about $1,035,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.