Coinbase Global (NASDAQ:COIN) Price Target Raised to $285.00 at Piper Sandler

Coinbase Global (NASDAQ:COIN) had its target price increased by stock analysts at Piper Sandler from $245.00 to $285.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the cryptocurrency exchange’s stock. Piper Sandler’s target price suggests a potential downside of 0.96% from the stock’s current price.

COIN has been the subject of several other research reports. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Oppenheimer upped their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $288.44.

Coinbase Global Stock Up 6.3 %

NASDAQ COIN opened at $287.76 on Tuesday. Coinbase Global has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $72.04 billion, a P/E ratio of 49.11 and a beta of 3.59. The stock’s 50-day moving average price is $282.26 and its 200-day moving average price is $228.53.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, equities research analysts predict that Coinbase Global will post 4.44 earnings per share for the current 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 Monday, October 14th. The shares were sold at an average price of $181.36, for a total value of $272,040.00. Following the completion of the sale, the chief operating officer now owns 176,601 shares in the company, valued at approximately $32,028,357.36. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,641 shares of company stock worth $83,504,173. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of COIN. Empowered Funds LLC grew its position in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares during the period. Benjamin Edwards Inc. lifted its holdings in Coinbase Global by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after buying an additional 61 shares in the last quarter. Brooklyn Investment Group boosted its position in Coinbase Global by 3.9% in the 3rd quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange’s stock valued at $314,000 after buying an additional 66 shares during the period. Finally, Prospera Financial Services Inc boosted its position in Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock valued at $353,000 after buying an additional 68 shares during the period. 68.84% of the stock is currently owned by hedge funds and other 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.