Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $185.48

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned an average recommendation of “Hold” from the twenty-one analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $193.85.

A number of analysts have weighed in on COIN shares. Mizuho increased their target price on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Citigroup lifted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Barclays upped their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research note on Monday. 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 note on Friday, March 15th. Finally, Sanford C. Bernstein increased their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th.

Coinbase Global Trading Up 1.6 %

Shares of COIN opened at $226.93 on Friday. The company’s fifty day simple moving average is $236.37 and its 200-day simple moving average is $167.06. The company has a market cap of $54.98 billion, a P/E ratio of 45.30 and a beta of 3.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global has a twelve month low of $46.43 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period in the prior year, the company posted ($2.46) EPS. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, analysts expect that Coinbase Global will post 2.71 EPS for the current year.

Insider Activity

In related news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The sale was disclosed in a filing with the SEC, which is available through this link. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $9,833,424.90. Following the transaction, 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. Over the last three months, insiders have sold 420,597 shares of company stock valued at $86,053,862. Company insiders own 33.16% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

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