Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Recommendation of “Hold” from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average recommendation of “Hold” from the twenty-six ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $74.29.

Several research analysts recently weighed in on COIN shares. Compass Point reduced their price objective on shares of Coinbase Global from $95.00 to $75.00 in a research note on Wednesday, October 26th. Citigroup reduced their price objective on shares of Coinbase Global from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Needham & Company LLC reissued a “buy” rating and set a $73.00 price objective on shares of Coinbase Global in a research note on Tuesday, January 10th. Jefferies Financial Group started coverage on shares of Coinbase Global in a research note on Monday, January 9th. They set a “hold” rating and a $35.00 price objective on the stock. Finally, Oppenheimer cut their price target on shares of Coinbase Global to $89.00 in a research note on Tuesday, November 15th.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 1,818 shares of the company’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $44.39, for a total value of $80,701.02. Following the transaction, the insider now directly owns 57,242 shares in the company, valued at $2,540,972.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 1,818 shares of the company’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $44.39, for a total value of $80,701.02. Following the transaction, the insider now directly owns 57,242 shares in the company, valued at $2,540,972.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tobias Lutke acquired 5,349 shares of the firm’s stock in a transaction on Tuesday, October 18th. The stock was bought at an average price of $72.90 per share, for a total transaction of $389,942.10. Following the completion of the acquisition, the director now owns 82,293 shares of the company’s stock, valued at $5,999,159.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 106,892 shares of company stock worth $4,888,242 and have sold 471,048 shares worth $19,341,757. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC lifted its position in 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. BDO Wealth Advisors LLC lifted its position in 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. Ellevest Inc. bought a new stake in Coinbase Global during the third quarter worth about $26,000. Guardian Wealth Advisors LLC bought a new stake in Coinbase Global during the third quarter worth about $29,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Coinbase Global during the third quarter worth about $31,000. 46.41% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Up 5.1 %

Shares of NASDAQ:COIN opened at $49.98 on Friday. Coinbase Global has a one year low of $31.55 and a one year high of $232.00. The company has a 50 day moving average of $42.19 and a 200-day moving average of $59.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of -8.23 and a beta of 2.16.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.20). Coinbase Global had a negative return on equity of 20.19% and a negative net margin of 24.25%. The firm had revenue of $590.34 million for the quarter, compared to the consensus estimate of $642.76 million. On average, sell-side analysts forecast that Coinbase Global will post -11.7 earnings per share for the current year.

Coinbase Global Company Profile

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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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Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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