Coinbase Global (NASDAQ:COIN) Issues Quarterly Earnings Results

Coinbase Global, Inc. (NASDAQ:COIN) issued its earnings results on Thursday. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93, Zacks reports. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%.

Coinbase Global Price Performance

NASDAQ:COIN opened at $274.31 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business’s 50-day simple moving average is $280.97 and its two-hundred day simple moving average is $238.16. The stock has a market cap of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 386,798 shares of company stock valued at $114,707,944 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Oppenheimer cut their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Bank of America raised their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.17.

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.