Mizuho Issues Positive Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its target price hoisted by equities research analysts at Mizuho from $160.00 to $178.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “underperform” rating on the cryptocurrency exchange’s stock. Mizuho’s target price suggests a potential downside of 9.12% from the stock’s previous close.

Several other research firms have also issued reports on COIN. Monness Crespi & Hardt initiated coverage on Coinbase Global in a research report on Monday. They set a “buy” rating and a $245.00 target price for the company. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Compass Point reduced their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Bank of America upped their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $244.67.

Coinbase Global Trading Down 7.5 %

COIN traded down $15.88 during trading on Thursday, reaching $195.86. 4,720,142 shares of the company’s stock were exchanged, compared to its average volume of 10,360,085. The company’s fifty day moving average price is $181.94 and its 200-day moving average price is $209.22. The firm has a market capitalization of $48.67 billion, a PE ratio of 35.45 and a beta of 3.35. Coinbase Global has a fifty-two week low of $73.56 and a fifty-two week high of $283.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the firm earned ($0.42) earnings per share. As a group, equities analysts forecast that Coinbase Global will post 3.92 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,687 shares of company stock valued at $14,908,594 in the last three months. 23.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Coinbase Global

Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC raised its holdings in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the second quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the period. Versant Capital Management Inc increased its holdings in shares of Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $32,000. 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.