Mizuho Cuts Coinbase Global (NASDAQ:COIN) Price Target to $280.00

Coinbase Global (NASDAQ:COIN) had its price objective decreased by equities research analysts at Mizuho from $290.00 to $280.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the cryptocurrency exchange’s stock. Mizuho’s target price suggests a potential upside of 18.96% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. HC Wainwright raised their target price on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $304.50.

Coinbase Global Stock Performance

Shares of COIN stock opened at $235.38 on Thursday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global has a 12-month low of $146.12 and a 12-month high of $349.75. The business’s 50 day moving average is $275.76 and its two-hundred day moving average is $239.79. The company has a market capitalization of $58.93 billion, a P/E ratio of 24.78 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the sale, the director now owns 10,417 shares in the company, valued at $3,386,983.38. The trade was a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $161,639.80. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 334,306 shares of company stock worth $97,300,651 in the last ninety days. 23.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. SOA Wealth Advisors LLC. increased its holdings in Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after buying an additional 40 shares during the period. Empowered Funds LLC grew its stake in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares during the period. Finally, Capital Advisors Wealth Management LLC lifted its stake in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.