Coinbase Global (NASDAQ:COIN) Price Target Increased to $250.00 by Analysts at Wedbush

Coinbase Global (NASDAQ:COIN) had its price objective upped by Wedbush from $200.00 to $250.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the cryptocurrency exchange’s stock.

A number of other research firms also recently weighed in on COIN. HC Wainwright upped their target price on Coinbase Global from $250.00 to $300.00 and gave the company a buy rating in a research report on Monday, April 29th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $295.00 to $255.00 and set a neutral rating on the stock in a report on Friday. Bank of America upped their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an underperform rating in a report on Wednesday, April 10th. 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 research note on Friday, January 19th. Finally, JMP Securities restated a market outperform rating on shares of Coinbase Global in a research note on Friday, March 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $185.48.

Coinbase Global Stock Performance

Coinbase Global stock traded down $5.60 during midday trading on Friday, hitting $223.25. The company’s stock had a trading volume of 13,739,132 shares, compared to its average volume of 9,158,455. 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 company has a market cap of $54.09 billion, a price-to-earnings ratio of 44.56 and a beta of 3.46. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a 50-day moving average price of $236.37 and a two-hundred day moving average price of $165.79.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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. The company had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the business earned ($2.46) earnings per share. As a group, sell-side analysts predict that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction on 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 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 available through the SEC website. In other news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 sale, the director now owns 4,662 shares of the company’s stock, valued at $558,181.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 2.9% in 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 lifted its stake in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the period. Norges Bank bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $202,936,000. Northern Trust Corp grew its position in shares of Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after buying an additional 37,019 shares during the period. Finally, a16z Perennial Management L.P. bought a new stake in shares of Coinbase Global in the 4th quarter valued at $147,646,000. 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.