HC Wainwright Equities Analysts Raise Earnings Estimates for Coinbase Global, Inc. (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) – Analysts at HC Wainwright lifted their Q2 2024 EPS estimates for shares of Coinbase Global in a report released on Monday, April 29th. HC Wainwright analyst M. Colonnese now expects that the cryptocurrency exchange will post earnings per share of $0.71 for the quarter, up from their prior estimate of $0.57. HC Wainwright currently has a “Buy” rating and a $300.00 target price on the stock. The consensus estimate for Coinbase Global’s current full-year earnings is $2.43 per share. HC Wainwright also issued estimates for Coinbase Global’s Q3 2024 earnings at $0.91 EPS.

Other research analysts also recently issued reports about the stock. Piper Sandler increased their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. 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. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Canaccord Genuity Group reissued a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $167.81.

Coinbase Global Trading Up 3.0 %

NASDAQ COIN opened at $210.09 on Tuesday. 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’s fifty day moving average price is $233.11 and its 200 day moving average price is $163.99. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 778.11 and a beta of 3.41. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company’s revenue was up 51.6% on a year-over-year basis. During the same period last year, the firm posted ($2.46) EPS.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 419,797 shares of company stock worth $85,822,565. Insiders own 33.16% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in COIN. Ballentine Partners LLC acquired a new stake in Coinbase Global during the 3rd quarter valued at $201,000. Golden State Equity Partners acquired a new stake in Coinbase Global during the 3rd quarter valued at $213,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Coinbase Global by 5.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange’s stock valued at $2,515,000 after purchasing an additional 1,800 shares in the last quarter. Xponance Inc. grew its holdings in Coinbase Global by 5.6% during the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after purchasing an additional 333 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Coinbase Global by 3.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.