Coinbase Global (NASDAQ:COIN) Price Target Raised to $145.00

Coinbase Global (NASDAQ:COIN) had its price target upped by Mizuho from $84.00 to $145.00 in a research report released on Friday morning, Benzinga reports. Mizuho currently has an underperform rating on the cryptocurrency exchange’s stock.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler raised their target price on shares of Coinbase Global from $125.00 to $165.00 and gave the stock a neutral rating in a report on Friday, February 16th. The Goldman Sachs Group upgraded Coinbase Global from a sell rating to a neutral rating in a research note on Friday, March 8th. JMP Securities reiterated a market outperform rating on shares of Coinbase Global in a research report on Friday, March 22nd. Needham & Company LLC boosted their price objective on Coinbase Global from $160.00 to $180.00 and gave the stock a buy rating in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods raised their target price on Coinbase Global from $160.00 to $230.00 and gave the company a market perform rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $163.70.

Coinbase Global Trading Down 6.6 %

NASDAQ COIN opened at $245.75 on Friday. 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 company’s fifty day moving average price is $215.66 and its two-hundred day moving average price is $151.71. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a market capitalization of $59.54 billion, a price-to-earnings ratio of 910.19 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates 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 was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.46) EPS. As a group, research analysts predict that Coinbase Global will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $129.15, for a total value of $193,725.00. Following the completion of the sale, the chief operating officer now owns 234,642 shares in the company, valued at $30,304,014.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.15, for a total value of $193,725.00. Following the completion of the sale, the chief operating officer now directly owns 234,642 shares of the company’s stock, valued at $30,304,014.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 97,836 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $131.90, for a total transaction of $12,904,568.40. Following the sale, the director now owns 201,744 shares of the company’s stock, valued at $26,610,033.60. The disclosure for this sale can be found here. Insiders sold a total of 661,539 shares of company stock valued at $109,628,776 over the last three months. Insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Barrett & Company Inc. bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $26,000. Ancora Advisors LLC raised its position in shares of Coinbase Global by 144.0% in the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 435 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Tyler Stone Wealth Management bought a new stake in shares of Coinbase Global during the 2nd quarter worth $31,000. Finally, Mather Group LLC. acquired a new position in Coinbase Global in the 1st quarter valued at $32,000. 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.