Coinbase Global, Inc. (NASDAQ:COIN) Receives $251.00 Consensus PT from Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus rating of “Hold” from the twenty brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $255.22.

Several research firms have recently commented on COIN. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. Compass Point cut their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock.

Insider Activity

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $188.94, for a total transaction of $283,410.00. Following the sale, the chief operating officer now directly owns 197,101 shares of the company’s stock, valued at $37,240,262.94. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,966 shares of company stock valued at $47,064,922 in the last 90 days. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in COIN. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $409,919,000. Cowen AND Company LLC boosted its position in shares of Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 6.1 %

Shares of Coinbase Global stock opened at $293.29 on Wednesday. The stock has a market capitalization of $73.43 billion, a PE ratio of 50.05 and a beta of 3.34. Coinbase Global has a 52 week low of $112.18 and a 52 week high of $341.75. The stock has a 50 day moving average price of $217.21 and a two-hundred day moving average price of $215.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global will post 4.27 earnings per share 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.