Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Price Target at $288.44

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned an average rating of “Hold” from the twenty research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $284.17.

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday. Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now directly owns 175,101 shares in the company, valued at $35,598,033.30. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,333 shares of company stock valued at $95,092,118 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after purchasing an additional 43 shares in the last quarter. Capital Advisors Wealth Management LLC increased its stake in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings 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 in the last quarter. Pallas Capital Advisors LLC boosted its position in Coinbase Global by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after buying an additional 51 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $274.89 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $289.78 and its 200 day moving average price is $230.14. The firm has a market cap of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.57. Coinbase Global has a 1 year low of $114.51 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts expect that Coinbase Global will post 4.44 earnings per share for the current fiscal year.

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.