Coinbase Global (NASDAQ:COIN) PT Raised to $179.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its target price increased by equities researchers at Barclays from $146.00 to $179.00 in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s price target indicates a potential downside of 26.32% from the stock’s previous close.

Several other analysts have also commented on COIN. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, April 3rd. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Mizuho lifted their price target on shares of Coinbase Global from $60.00 to $84.00 and gave the company an “underperform” rating in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $154.15.

Coinbase Global Trading Down 5.5 %

Shares of Coinbase Global stock opened at $242.95 on Monday. The stock has a market cap of $58.86 billion, a P/E ratio of 899.81 and a beta of 3.41. The stock’s 50 day simple moving average is $208.19 and its 200-day simple moving average is $147.86. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.46) EPS. Analysts predict that Coinbase Global will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total transaction of $5,914,122.50. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $134,813.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total transaction of $5,914,122.50. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $134,813.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $129.15, for a total transaction of $193,725.00. Following the transaction, the chief operating officer now owns 234,642 shares of the company’s stock, valued at approximately $30,304,014.30. The disclosure for this sale can be found here. Insiders sold a total of 766,070 shares of company stock worth $121,938,069 over the last 90 days. Corporate insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently bought and sold shares of the stock. Welch Group LLC purchased a new stake in shares of Coinbase Global in the first quarter valued at about $265,000. Mather Group LLC. purchased a new stake in shares of Coinbase Global in the first quarter valued at about $32,000. Los Angeles Capital Management LLC purchased a new stake in shares of Coinbase Global in the first quarter valued at about $294,000. Mass General Brigham Inc raised its holdings in shares of Coinbase Global by 8.7% in the first quarter. Mass General Brigham Inc now owns 140,229 shares of the cryptocurrency exchange’s stock valued at $37,178,000 after buying an additional 11,282 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new stake in shares of Coinbase Global in the first quarter valued at about $593,000. Institutional investors and hedge funds 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.