Coinbase Global (NASDAQ:COIN) Stock Rating Upgraded by Rothschild Redb

Coinbase Global (NASDAQ:COIN) was upgraded by research analysts at Rothschild Redb from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also commented on COIN. Bank of America lowered their price target on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday. Sanford C. Bernstein raised their price target on Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Jefferies Financial Group raised their price target on Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a research report on Tuesday, July 29th. JMP Securities raised their price target on Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. Finally, Compass Point restated a “sell” rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus target price of $367.27.

Coinbase Global Price Performance

COIN stock opened at $380.02 on Friday. The business has a fifty day moving average of $323.62 and a two-hundred day moving average of $281.47. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market cap of $97.64 billion, a price-to-earnings ratio of 36.75 and a beta of 3.68. Coinbase Global has a 52-week low of $142.58 and a 52-week high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.Coinbase Global’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. As a group, research analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $304.52, for a total transaction of $3,045,200.00. Following the sale, the insider owned 82,328 shares in the company, valued at approximately $25,070,522.56. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,756 shares of Coinbase Global stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $300.52, for a total value of $527,713.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 714,515 shares of company stock valued at $272,046,775. 17.65% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Evelyn Partners Investment Management Europe Ltd increased its position in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global during the second quarter worth about $30,000. City State Bank acquired a new stake in shares of Coinbase Global during the second quarter worth about $33,000. Financial Gravity Companies Inc. acquired a new position in Coinbase Global in the 2nd quarter valued at about $34,000. Finally, Fourth Dimension Wealth LLC increased its position in Coinbase Global by 300.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock valued at $35,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds 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.