Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $154.15

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned a consensus rating of “Hold” from the twenty research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $156.65.

Several research analysts have issued reports on COIN shares. Needham & Company LLC raised their price objective on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. HC Wainwright increased their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Canaccord Genuity Group restated a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research report on Thursday, March 28th. Finally, Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $263.01 on Tuesday. Coinbase Global has a 12 month low of $46.43 and a 12 month 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. The firm has a market capitalization of $63.72 billion, a PE ratio of 974.11 and a beta of 3.41. The business’s fifty day moving average price is $213.33 and its 200 day moving average price is $149.38.

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. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter last year, the company earned ($2.46) EPS. The business’s quarterly revenue was up 51.6% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global will post 2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $129.15, for a total transaction of $193,725.00. Following the completion of the transaction, the chief operating officer now owns 234,642 shares in the company, valued at $30,304,014.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $129.15, for a total transaction of $193,725.00. Following the sale, the chief operating officer now owns 234,642 shares in the company, valued at $30,304,014.30. The disclosure for this sale can be found here. Insiders have sold 661,539 shares of company stock valued at $109,628,776 over the last three months. Company insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently modified their holdings of COIN. Salem Investment Counselors Inc. lifted its holdings in Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after acquiring an additional 114 shares during the last quarter. Paragon Capital Management Ltd lifted its stake in Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after purchasing an additional 85,573 shares during the last quarter. Capital CS Group LLC bought a new stake in Coinbase Global during the first quarter worth approximately $205,000. Inscription Capital LLC acquired a new position in Coinbase Global in the first quarter worth approximately $525,000. Finally, Park Avenue Securities LLC bought a new position in shares of Coinbase Global in the first quarter valued at $231,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Company Profile

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.