Coinbase Global (NASDAQ:COIN) Rating Reiterated by JMP Securities

Coinbase Global (NASDAQ:COIN)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research note issued on Monday, Benzinga reports. They currently have a $90.00 price target on the cryptocurrency exchange’s stock. JMP Securities’ price target would suggest a potential upside of 43.66% from the company’s current price.

Several other equities analysts also recently issued reports on COIN. Cowen downgraded shares of Coinbase Global from an “outperform” rating to a “market perform” rating and set a $36.00 price objective on the stock. in a report on Thursday, January 5th. Piper Sandler upped their price objective on shares of Coinbase Global from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $41.00 to $30.00 and set a “sell” rating on the stock in a report on Monday, January 9th. Canaccord Genuity Group dropped their target price on Coinbase Global from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Finally, Compass Point upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Friday, February 17th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $69.38.

Coinbase Global Price Performance

NASDAQ COIN opened at $62.65 on Monday. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of -5.29 and a beta of 2.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Coinbase Global has a 12 month low of $31.55 and a 12 month high of $206.79. The company’s 50 day moving average is $57.88 and its two-hundred day moving average is $56.92.

Coinbase Global (NASDAQ:COIN – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.07). The business had revenue of $629.10 million during the quarter, compared to the consensus estimate of $587.37 million. Coinbase Global had a negative return on equity of 44.89% and a negative net margin of 82.18%. The company’s revenue for the quarter was down 74.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.32 EPS. As a group, research analysts anticipate that Coinbase Global will post -4.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 8,197 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $62.12, for a total transaction of $509,197.64. Following the transaction, the chief accounting officer now owns 34,752 shares of the company’s stock, valued at $2,158,794.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 8,197 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $62.12, for a total transaction of $509,197.64. Following the sale, the chief accounting officer now directly owns 34,752 shares in the company, valued at $2,158,794.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tobias Lutke acquired 10,520 shares of Coinbase Global stock in a transaction dated Tuesday, December 20th. The stock was bought at an average price of $34.75 per share, for a total transaction of $365,570.00. Following the completion of the transaction, the director now directly owns 151,824 shares of the company’s stock, valued at $5,275,884. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 67,526 shares of company stock valued at $2,953,057 and have sold 338,857 shares valued at $14,445,827. 36.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC increased its stake 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 acquiring an additional 223 shares during the last quarter. Ellevest Inc. acquired a new stake in Coinbase Global during the third quarter worth about $26,000. Ancora Advisors LLC increased its stake in Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 435 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Coinbase Global during the second quarter worth about $29,000. Finally, Guardian Wealth Advisors LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $29,000. 46.41% of the stock is currently owned by institutional investors and hedge funds.

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.