Coinbase Global (NASDAQ:COIN) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $50.00 price target on the cryptocurrency exchange’s stock, down from their prior price target of $77.00. Bank of America‘s price objective indicates a potential upside of 10.47% from the stock’s current price.
Several other analysts have also weighed in on COIN. DA Davidson lowered their target price on Coinbase Global from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Atlantic Securities upped their target price on Coinbase Global from $54.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, September 6th. Barclays decreased their price objective on Coinbase Global from $77.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Friday, November 4th. BTIG Research decreased their price objective on Coinbase Global from $220.00 to $110.00 in a research note on Friday, November 4th. Finally, JMP Securities decreased their price objective on Coinbase Global from $195.00 to $155.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.70.
Coinbase Global Trading Down 7.2 %
NASDAQ:COIN opened at $45.26 on Friday. The stock has a fifty day moving average price of $64.77 and a two-hundred day moving average price of $67.38. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of -7.46 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05. Coinbase Global has a 1 year low of $40.83 and a 1 year high of $339.41.
Insider Transactions at Coinbase Global
Institutional Trading of Coinbase Global
Institutional investors have recently added to or reduced their stakes in the stock. WD Rutherford LLC acquired a new stake in Coinbase Global in the first quarter valued at $28,000. Cullen Frost Bankers Inc. raised its holdings in shares of Coinbase Global by 555.6% during the first quarter. Cullen Frost Bankers Inc. now owns 295 shares of the cryptocurrency exchange’s stock worth $56,000 after purchasing an additional 250 shares during the period. WASHINGTON TRUST Co raised its holdings in shares of Coinbase Global by 100.0% during the first quarter. WASHINGTON TRUST Co now owns 300 shares of the cryptocurrency exchange’s stock worth $56,000 after purchasing an additional 150 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Coinbase Global by 3,355.6% during the first quarter. Lazard Asset Management LLC now owns 311 shares of the cryptocurrency exchange’s stock worth $59,000 after purchasing an additional 302 shares during the period. Finally, BDO Wealth Advisors LLC raised its holdings in shares of Coinbase Global by 133.5% during the third quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock worth $25,000 after purchasing an additional 223 shares during the period. 49.31% of the stock is owned by institutional investors and hedge funds.
About Coinbase Global
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.
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