Coinbase Global (NASDAQ:COIN) Given New $310.00 Price Target at Piper Sandler

Coinbase Global (NASDAQ:COIN) had its target price raised by stock analysts at Piper Sandler from $285.00 to $310.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the cryptocurrency exchange’s stock. Piper Sandler’s price target points to a potential upside of 3.99% from the company’s previous close.

Several other research firms have also weighed in on COIN. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $250.00 to $290.00 in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday. Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America lifted 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. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.56.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $298.11 on Friday. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $282.36 and a two-hundred day moving average of $237.88. The company has a market capitalization of $74.63 billion, a price-to-earnings ratio of 50.87 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. As a group, analysts expect that Coinbase Global will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock worth $114,707,944 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Coinbase Global

Several large investors have recently made changes to their positions in the stock. MML Investors Services LLC increased its holdings in shares of Coinbase Global by 16.8% during the 4th quarter. MML Investors Services LLC now owns 14,659 shares of the cryptocurrency exchange’s stock valued at $3,640,000 after acquiring an additional 2,109 shares during the last quarter. MetLife Investment Management LLC boosted its position in Coinbase Global by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock worth $2,746,000 after purchasing an additional 55 shares during the period. Dimensional Fund Advisors LP grew its holdings in Coinbase Global by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 408,170 shares of the cryptocurrency exchange’s stock valued at $101,392,000 after purchasing an additional 7,834 shares during the last quarter. First Trust Advisors LP raised its position in shares of Coinbase Global by 33.8% in the fourth quarter. First Trust Advisors LP now owns 162,635 shares of the cryptocurrency exchange’s stock valued at $40,382,000 after purchasing an additional 41,115 shares during the period. Finally, Emory University lifted its stake in shares of Coinbase Global by 1.5% in the fourth quarter. Emory University now owns 4,376 shares of the cryptocurrency exchange’s stock worth $1,087,000 after buying an additional 64 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

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.