Coinbase Global, Inc. (NASDAQ:COIN) Receives $320.06 Consensus PT from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average rating of “Hold” from the twenty-five research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $336.58.

COIN has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a report on Tuesday. Barclays boosted their price objective on Coinbase Global from $202.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Rosenblatt Securities raised their target price on Coinbase Global from $300.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Monness Crespi & Hardt lowered Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday. Finally, Sanford C. Bernstein increased their price objective on Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th.

Coinbase Global Trading Up 1.6%

NASDAQ:COIN opened at $377.48 on Monday. The company’s 50 day moving average is $324.49 and its 200-day moving average is $258.36. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a market cap of $95.83 billion, a price-to-earnings ratio of 70.69, a P/E/G ratio of 26.47 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. Equities analysts anticipate that Coinbase Global will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the transaction, the director owned 10,417 shares of the company’s stock, valued at $2,632,167.56. This trade represents a 74.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,208,340 shares of company stock valued at $439,997,456. Corporate insiders own 17.65% of the company’s stock.

Institutional Trading of Coinbase Global

A number of large investors have recently bought and sold shares of the stock. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the 4th quarter valued at $26,000. Bessemer Group Inc. increased its holdings in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in Coinbase Global in the 1st quarter valued at $30,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the second quarter worth $30,000. 68.84% of the stock is currently owned by institutional investors.

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.