Coinbase Global (NASDAQ:COIN) Price Target Cut to $277.00 by Analysts at Rothschild & Co Redburn

Coinbase Global (NASDAQ:COIN) had its target price cut by Rothschild & Co Redburn from $288.00 to $277.00 in a research report released on Monday morning,MarketScreener reports.

COIN has been the subject of several other research reports. Canaccord Genuity Group decreased their target price on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Needham & Company LLC reduced their price objective on Coinbase Global from $290.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Rosenblatt Securities lowered their target price on Coinbase Global from $325.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Erste Group Bank lowered shares of Coinbase Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Piper Sandler dropped their price objective on shares of Coinbase Global from $270.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $270.51.

Check Out Our Latest Stock Report on Coinbase Global

Coinbase Global Stock Performance

Coinbase Global stock opened at $199.79 on Monday. Coinbase Global has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The firm’s 50 day simple moving average is $201.27 and its 200-day simple moving average is $268.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $52.76 billion, a P/E ratio of 45.51, a price-to-earnings-growth ratio of 3.06 and a beta of 3.70.

Coinbase Global (NASDAQ:COINGet Free Report) last posted its quarterly earnings data on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $4.68 EPS. The company’s revenue for the quarter was down 21.6% on a year-over-year basis. As a group, equities research analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer owned 397,171 shares in the company, valued at $79,434,200. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $248.96, for a total transaction of $9,958,400.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 476,920 shares of company stock worth $84,194,452. 16.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. REAP Financial Group LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $25,000. MV Capital Management Inc. bought a new position in Coinbase Global during the fourth quarter worth $27,000. Evelyn Partners Investment Management Europe Ltd raised its stake in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Coinbase Global in the 3rd quarter worth $29,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Coinbase Global by 4,400.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Key Coinbase Global News

Here are the key news stories impacting Coinbase Global this week:

Coinbase Global Company Profile

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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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