Coinbase Global (NASDAQ:COIN) Price Target Raised to $375.00 at Needham & Company LLC

Coinbase Global (NASDAQ:COIN) had its price objective lifted by Needham & Company LLC from $290.00 to $375.00 in a report published on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the cryptocurrency exchange’s stock.

Several other equities analysts have also recently weighed in on the stock. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Piper Sandler reissued a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Barclays raised their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $251.00.

Coinbase Global Stock Performance

Shares of COIN stock opened at $325.41 on Monday. 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 company has a market capitalization of $81.47 billion, a P/E ratio of 55.53 and a beta of 3.34. The company’s 50 day moving average price is $202.13 and its two-hundred day moving average price is $212.58. Coinbase Global has a 52 week low of $100.01 and a 52 week high of $334.86.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. On average, analysts expect that Coinbase Global will post 4.27 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 400 shares of Coinbase Global stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,822 shares of company stock worth $30,921,194 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. APEIRON CAPITAL Ltd purchased a new stake in shares of Coinbase Global during the first quarter worth about $108,434,000. Sei Investments Co. grew its holdings in Coinbase Global by 41.7% during the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock valued at $2,629,000 after buying an additional 2,920 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Coinbase Global by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock valued at $6,138,000 after buying an additional 5,189 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Coinbase Global by 80.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,366 shares of the cryptocurrency exchange’s stock valued at $1,157,000 after purchasing an additional 1,941 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Coinbase Global by 53.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,499 shares of the cryptocurrency exchange’s stock valued at $2,518,000 after purchasing an additional 3,306 shares during the last quarter. Institutional investors own 68.84% 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.