Coinbase Global, Inc. (NASDAQ:COIN) Receives $251.00 Consensus Target Price from Analysts

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus recommendation of “Hold” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $251.00.

A number of analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Needham & Company LLC increased their price target on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Monness Crespi & Hardt started coverage on Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $188.94, for a total transaction of $283,410.00. Following the completion of the sale, the chief operating officer now owns 197,101 shares of the company’s stock, valued at approximately $37,240,262.94. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,091 shares of company stock valued at $50,033,426. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global during the third quarter worth about $409,919,000. Renaissance Technologies LLC increased its stake in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd purchased a new stake in shares of Coinbase Global during the first quarter valued at $108,434,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $304.64 on Wednesday. The firm has a market capitalization of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. The stock’s fifty day moving average is $214.20 and its 200 day moving average is $215.15. Coinbase Global has a fifty-two week low of $107.98 and a fifty-two week high of $341.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. On average, sell-side analysts anticipate that Coinbase Global will post 4.27 earnings per share for the current year.

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.