Coinbase Global (NASDAQ:COIN) Announces Earnings Results

Coinbase Global, Inc. (NASDAQ:COIN) released its quarterly earnings results on Thursday. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93), Briefing.com reports. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company earned ($0.42) EPS. The company’s revenue for the quarter was up 104.8% on a year-over-year basis.

Coinbase Global Stock Down 3.9 %

COIN traded down $8.20 during trading on Friday, hitting $204.44. 10,063,929 shares of the company’s stock traded hands, compared to its average volume of 8,342,275. The company’s 50 day simple moving average is $234.52 and its two-hundred day simple moving average is $214.76. 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, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The stock has a market capitalization of $50.20 billion, a price-to-earnings ratio of 40.81 and a beta of 3.40.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COIN shares. Singular Research reissued a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday. Wedbush increased their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Bank of America decreased their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average price target of $245.27.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total transaction of $3,473,870.40. Following the sale, the director now directly owns 4,662 shares in the company, valued at approximately $988,716.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total value of $3,473,870.40. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $988,716.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total value of $293,850.00. Following the completion of the transaction, the chief operating officer now owns 204,436 shares in the company, valued at $40,049,012.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,601 shares of company stock worth $56,091,678. Insiders own 23.43% of the company’s stock.

About Coinbase Global

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.