Barclays Raises Coinbase Global (NASDAQ:COIN) Price Target to $206.00

Coinbase Global (NASDAQ:COIN) had its price objective upped by Barclays from $196.00 to $206.00 in a report published on Friday, Benzinga reports. They currently have an underweight rating on the cryptocurrency exchange’s stock.

Several other equities research analysts also recently issued reports on COIN. Piper Sandler increased their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Citigroup raised shares of Coinbase Global from a neutral rating to a buy rating and increased their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Oppenheimer increased their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Sanford C. Bernstein increased their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a market perform rating in a research report on Thursday, April 18th. Finally, Singular Research restated a buy rating on shares of Coinbase Global in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $245.27.

Coinbase Global Trading Down 5.2 %

NASDAQ:COIN traded down $10.73 during trading hours on Friday, hitting $193.71. The stock had a trading volume of 14,700,047 shares, compared to its average volume of 11,277,513. Coinbase Global has a one year low of $69.63 and a one year 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. The company has a market cap of $47.57 billion, a price-to-earnings ratio of 34.46 and a beta of 3.40. The business’s 50 day moving average is $234.52 and its 200-day moving average is $215.33.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted ($0.42) EPS. The firm’s revenue for the quarter was up 104.8% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global will post 4.95 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the sale, the chief operating officer now owns 194,971 shares in the company, valued at approximately $45,428,243. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paul Grewal sold 17,444 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $239.07, for a total transaction of $4,170,337.08. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $17,020,588.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares in the company, valued at $45,428,243. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,601 shares of company stock worth $56,091,678. 23.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the business. Salem Investment Counselors Inc. increased its holdings in Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the period. Intech Investment Management LLC increased its holdings in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after buying an additional 33,240 shares during the period. Paragon Capital Management Ltd increased its holdings in Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after buying an additional 85,573 shares during the period. Edgestream Partners L.P. increased its holdings in Coinbase Global by 93.5% in the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after buying an additional 7,148 shares during the period. Finally, Raymond James & Associates increased its holdings in Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after buying an additional 9,564 shares during the period. 68.84% of the stock is owned by institutional investors.

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.