Oppenheimer Increases Coinbase Global (NASDAQ:COIN) Price Target to $282.00

Coinbase Global (NASDAQ:COIN) had its target price boosted by investment analysts at Oppenheimer from $276.00 to $282.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the cryptocurrency exchange’s stock. Oppenheimer’s price objective would indicate a potential upside of 26.32% from the stock’s current price.

A number of other analysts have also commented on COIN. HC Wainwright increased their price objective on Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Needham & Company LLC lowered their price target on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Wedbush lifted their target price on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, Canaccord Genuity Group increased their price target on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.48.

Coinbase Global Stock Performance

Shares of COIN opened at $223.25 on Friday. The company has a 50-day moving average of $236.37 and a two-hundred day moving average of $165.79. The stock has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company’s quarterly revenue 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. As a group, research analysts predict that Coinbase Global will post 2.71 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new stake in Coinbase Global during the 4th quarter worth $27,000. Concord Wealth Partners lifted its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Coinbase Global during the first quarter valued at about $32,000. 68.84% of the stock is 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.