Keefe, Bruyette & Woods Boosts Coinbase Global (NASDAQ:COIN) Price Target to $230.00

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Keefe, Bruyette & Woods from $160.00 to $230.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has a market perform rating on the cryptocurrency exchange’s stock.

Several other equities analysts also recently weighed in on the company. Canaccord Genuity Group reiterated a buy rating and set a $240.00 target price on shares of Coinbase Global in a research report on Thursday, March 28th. Wedbush lifted their target price on Coinbase Global from $180.00 to $200.00 and gave the company an outperform rating in a research report on Friday, February 16th. JMP Securities restated a market outperform rating on shares of Coinbase Global in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a neutral rating in a research report on Friday, March 15th. Finally, TheStreet upgraded Coinbase Global from a d rating to a c- rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $148.60.

Coinbase Global Stock Down 3.5 %

Coinbase Global stock opened at $240.90 on Wednesday. The firm has a market cap of $58.36 billion, a price-to-earnings ratio of 892.22 and a beta of 3.41. The stock has a fifty day simple moving average of $203.47 and a two-hundred day simple moving average of $144.42. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the company posted ($2.46) earnings per share. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. Equities analysts predict that Coinbase Global will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Emilie Choi sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the transaction, the chief operating officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at approximately $4,933,575. The disclosure for this sale can be found here. Insiders have sold 742,995 shares of company stock valued at $116,023,946 over the last ninety days. 33.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fountainhead AM LLC grew its stake in Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after purchasing an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Coinbase Global by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Coinbase Global by 2.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock worth $669,000 after buying an additional 90 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Coinbase Global by 34.5% during the fourth quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock worth $61,000 after buying an additional 90 shares during the period. Institutional investors own 68.84% of the company’s stock.

About Coinbase Global

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.