Coinbase Global, Inc. (NASDAQ:COIN) Receives $237.78 Consensus PT from Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned an average rating of “Buy” from the twenty-four brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $237.78.

COIN has been the topic of a number of analyst reports. Cowen initiated coverage on shares of Coinbase Global in a research note on Thursday. They set an “outperform” rating on the stock. Canaccord Genuity Group lowered their target price on shares of Coinbase Global from $275.00 to $120.00 in a research note on Wednesday, May 11th. Zacks Investment Research upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Piper Sandler lowered their target price on shares of Coinbase Global from $440.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Finally, JMP Securities lowered their target price on shares of Coinbase Global from $394.00 to $250.00 in a research note on Wednesday, May 11th.

In related news, insider Paul Grewal sold 1,090 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $67.26, for a total transaction of $73,313.40. Following the transaction, the insider now directly owns 43,220 shares in the company, valued at approximately $2,906,977.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III purchased 706,554 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average price of $70.77 per share, for a total transaction of $50,002,826.58. Following the completion of the acquisition, the director now directly owns 706,554 shares in the company, valued at approximately $50,002,826.58. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,121,844 shares of company stock worth $76,837,576 over the last quarter.

A number of hedge funds have recently modified their holdings of the business. Jacobi Capital Management LLC grew its stake in Coinbase Global by 2.1% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,454 shares of the cryptocurrency exchange’s stock worth $331,000 after acquiring an additional 30 shares in the last quarter. United Capital Financial Advisers LLC grew its stake in Coinbase Global by 0.5% in the 3rd quarter. United Capital Financial Advisers LLC now owns 7,453 shares of the cryptocurrency exchange’s stock worth $1,695,000 after acquiring an additional 37 shares in the last quarter. Scotia Capital Inc. grew its stake in Coinbase Global by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 1,758 shares of the cryptocurrency exchange’s stock worth $400,000 after acquiring an additional 49 shares in the last quarter. Center for Financial Planning Inc. grew its stake in Coinbase Global by 40.2% in the 4th quarter. Center for Financial Planning Inc. now owns 178 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 51 shares in the last quarter. Finally, Blue Square Asset Management LLC grew its stake in Coinbase Global by 1.1% in the 4th quarter. Blue Square Asset Management LLC now owns 4,701 shares of the cryptocurrency exchange’s stock worth $1,186,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 39.01% of the company’s stock.

Shares of Coinbase Global stock traded up $5.45 on Friday, hitting $75.32. 14,094,269 shares of the company’s stock were exchanged, compared to its average volume of 7,655,402. The company has a 50-day simple moving average of $128.97 and a 200-day simple moving average of $197.11. The stock has a market capitalization of $16.53 billion and a PE ratio of 8.03. Coinbase Global has a 1 year low of $40.83 and a 1 year high of $368.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.55 and a current ratio of 1.55.

Coinbase Global (NASDAQ:COINGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) earnings per share for the quarter, missing the consensus estimate of $0.74 by ($2.72). The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Coinbase Global had a return on equity of 42.39% and a net margin of 33.63%. The company’s revenue was down 35.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 EPS. On average, analysts expect that Coinbase Global will post -7.6 EPS for the current fiscal year.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

Further Reading

Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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