Coinbase Global (NASDAQ:COIN) Price Target Raised to $275.00

Coinbase Global (NASDAQ:COIN) had its price target raised by Keefe, Bruyette & Woods from $165.00 to $275.00 in a research report released on Friday morning,Benzinga reports. They currently have a market perform rating on the cryptocurrency exchange’s stock.

Other equities research analysts also recently issued reports about the stock. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Needham & Company LLC upped their target price on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho raised their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Oppenheimer upped their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $286.22.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $278.71 on Friday. The stock has a 50 day simple moving average of $269.18 and a 200 day simple moving average of $227.00. The stock has a market cap of $69.78 billion, a P/E ratio of 47.56 and a beta of 3.57. Coinbase Global has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results 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 analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. Research analysts anticipate that Coinbase Global will post 4.44 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,386,983.38. This represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,720 shares of company stock worth $79,787,248. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in Coinbase Global during the second quarter worth approximately $333,000. Assenagon Asset Management S.A. increased its stake in shares of Coinbase Global by 39.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,629 shares of the cryptocurrency exchange’s stock valued at $584,000 after acquiring an additional 739 shares in the last quarter. Premier Path Wealth Partners LLC bought a new position in Coinbase Global during the second quarter worth $278,000. Spirit of America Management Corp NY bought a new stake in Coinbase Global in the second quarter valued at $33,000. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Coinbase Global by 9.8% during the second quarter. Verdence Capital Advisors LLC now owns 6,622 shares of the cryptocurrency exchange’s stock valued at $1,472,000 after purchasing an additional 590 shares during the period. Institutional investors own 68.84% of the company’s stock.

About Coinbase Global

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.