Coinbase Global (NASDAQ:COIN) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of Coinbase Global (NASDAQ:COIN) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $320.00 price objective on the cryptocurrency exchange’s stock.

COIN has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price target on Coinbase Global from $295.00 to $255.00 and set a neutral rating on the stock in a research report on Friday. Piper Sandler raised their price objective on Coinbase Global from $225.00 to $245.00 and gave the company a neutral rating in a report on Friday, April 12th. Oppenheimer upped their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a research note on Friday. Raymond James raised shares of Coinbase Global from an underperform rating to a market perform rating in a research note on Tuesday, March 12th. Finally, JPMorgan Chase & Co. upped their price objective 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of Hold and a consensus target price of $193.85.

Coinbase Global Stock Up 1.6 %

COIN opened at $226.93 on Friday. The firm has a market capitalization of $54.98 billion, a P/E ratio of 45.30 and a beta of 3.46. Coinbase Global has a one year low of $46.43 and a one year high of $283.48. The company has a fifty day moving average price of $236.37 and a 200-day moving average price of $167.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares of the company’s stock, valued at $4,933,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the sale, the insider now owns 66,122 shares in the company, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock worth $86,053,862 over the last quarter. Corporate insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Coinbase Global by 5.7% during the third 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. raised its stake in Coinbase Global by 5.6% during the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after buying an additional 333 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Coinbase Global by 3.4% in the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock worth $282,000 after acquiring an additional 125 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Coinbase Global by 84.0% in the third quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock worth $687,000 after acquiring an additional 4,175 shares during the last quarter. Finally, AM Investment Strategies LLC bought a new position in shares of Coinbase Global during the third quarter valued at $629,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.