Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $393.9750.

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods cut their target price on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Erste Group Bank assumed coverage on Coinbase Global in a research note on Wednesday, July 23rd. They issued a “buy” rating for the company. Finally, Redburn Partners set a $417.00 target price on Coinbase Global in a research note on Friday, October 3rd.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 4,400 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the sale, the chief financial officer directly owned 84,820 shares in the company, valued at approximately $29,212,856.20. This trade represents a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 180,657 shares of company stock valued at $59,552,326. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently added to or reduced their stakes in the company. Evelyn Partners Investment Management Europe Ltd grew its holdings in Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after acquiring an additional 36 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global in the 2nd quarter worth $30,000. Salomon & Ludwin LLC grew its holdings in Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. City State Bank purchased a new stake in Coinbase Global in the second quarter worth $33,000. Finally, Financial Gravity Companies Inc. purchased a new stake in Coinbase Global in the second quarter worth $34,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 7.0%

Shares of COIN opened at $307.32 on Wednesday. The business’s 50-day moving average price is $333.90 and its 200-day moving average price is $309.45. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $444.64. The stock has a market cap of $78.96 billion, a PE ratio of 26.58 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue was up 55.1% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global will post 7.22 EPS for the current fiscal 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.