Compass Point Lowers Coinbase Global (NASDAQ:COIN) Price Target to $190.00

Coinbase Global (NASDAQ:COIN) had its price target reduced by Compass Point from $230.00 to $190.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “sell” rating on the cryptocurrency exchange’s stock. Compass Point’s price objective suggests a potential downside of 12.42% from the stock’s previous close.

A number of other equities analysts also recently issued reports on COIN. Citigroup reiterated a “market outperform” rating on shares of Coinbase Global in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a research report on Friday, January 9th. Rosenblatt Securities increased their price target on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $300.00 to $425.00 in a research note on Thursday, October 30th. Finally, Rothschild & Co Redburn decreased their target price on shares of Coinbase Global from $404.00 to $403.00 and set a “buy” rating for the company in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $361.58.

Read Our Latest Stock Report on Coinbase Global

Coinbase Global Stock Performance

Shares of COIN opened at $216.95 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global has a one year low of $142.58 and a one year high of $444.64. The company has a 50-day simple moving average of $249.62 and a two-hundred day simple moving average of $306.95. The firm has a market capitalization of $58.50 billion, a PE ratio of 18.77 and a beta of 3.70.

Coinbase Global (NASDAQ:COINGet Free Report) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $0.28 EPS. The business’s revenue for the quarter was up 55.1% on a year-over-year basis. On average, analysts anticipate that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 8,050 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $250.00, for a total transaction of $2,012,500.00. Following the sale, the chief financial officer owned 70,664 shares in the company, valued at $17,666,000. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 1,375 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $250.27, for a total transaction of $344,121.25. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 820,587 shares of company stock worth $240,717,580. 16.56% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Ameriflex Group Inc. increased its position in shares of Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after purchasing an additional 30 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its stake in Coinbase Global by 2.0% during the third quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock worth $523,000 after buying an additional 30 shares during the period. Elevation Wealth Partners LLC increased its position in shares of Coinbase Global by 37.6% during the third quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. West Family Investments Inc. increased its position in shares of Coinbase Global by 3.3% during the third quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock valued at $347,000 after acquiring an additional 33 shares during the last quarter. Finally, Pettinga Financial Advisors LLC raised its stake in shares of Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after acquiring an additional 34 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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About Coinbase Global

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Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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