Coinbase Global (NASDAQ:COIN) Price Target Increased to $240.00 by Analysts at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Keefe, Bruyette & Woods from $230.00 to $240.00 in a research report released on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the cryptocurrency exchange’s stock.

Several other research analysts have also issued reports on the company. Needham & Company LLC decreased their target price on Coinbase Global from $275.00 to $260.00 and set a buy rating for the company in a research report on Friday. Mizuho upped their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an underperform rating in a research report on Friday, April 12th. HC Wainwright lifted their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the company a buy rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their target price 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, Bank of America upped their price target on Coinbase Global from $92.00 to $110.00 and gave the stock an underperform rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of Hold and an average price target of $193.85.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $226.93 on Friday. The business has a 50 day moving average of $236.37 and a 200 day moving average of $167.06. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a market cap of $54.98 billion, a PE ratio of 45.30 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating 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 firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the firm posted ($2.46) EPS. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Haun sold 1,758 shares of Coinbase Global stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $209.41, for a total value of $368,142.78. Following the transaction, the director now owns 95,630 shares in the company, valued at $20,025,878.30. The disclosure for this sale can be found here. Insiders sold a total of 420,597 shares of company stock worth $86,053,862 in the last three months. 33.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after purchasing an additional 408,046 shares during the period. Morgan Stanley increased its stake in Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares in the last quarter. Norges Bank bought a new stake in Coinbase Global during the fourth quarter valued at about $202,936,000. Northern Trust Corp lifted its position in shares of Coinbase Global by 4.3% in the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after acquiring an additional 37,019 shares in the last quarter. Finally, a16z Perennial Management L.P. bought a new position in Coinbase Global in the 4th quarter worth approximately $147,646,000. 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.