Coinbase Global (NASDAQ:COIN) Price Target Cut to $196.00 by Analysts at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective dropped by equities research analysts at Barclays from $204.00 to $196.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s price target suggests a potential downside of 8.68% from the company’s current price.

A number of other brokerages have also recently issued reports on COIN. Bank of America raised Coinbase Global from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Oppenheimer increased their price objective on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Singular Research reiterated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $212.83.

Coinbase Global Stock Performance

COIN opened at $214.63 on Wednesday. The company has a market cap of $52.71 billion, a PE ratio of 42.84 and a beta of 3.40. The stock has a 50-day moving average of $227.73 and a 200-day moving average of $205.56. Coinbase Global has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, equities research analysts forecast that Coinbase Global will post 5.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the transaction, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Alesia J. Haas sold 4,200 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the transaction, the chief financial officer now directly owns 192,622 shares in the company, valued at $47,681,649.88. The disclosure for this sale can be found here. Insiders have sold 314,136 shares of company stock valued at $68,855,464 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Fountainhead AM LLC grew its holdings in Coinbase Global by 2.1% in the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after buying an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares in the last quarter. Nilsine Partners LLC grew its holdings in shares of Coinbase Global by 1.2% during the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after purchasing an additional 81 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after purchasing an additional 86 shares in the last quarter. 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.