Coinbase Global, Inc. (NASDAQ:COIN) Receives $154.15 Consensus Price Target from Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received a consensus recommendation of “Hold” from the twenty research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $163.70.

Several research analysts have commented on the company. Needham & Company LLC lifted their price target on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Mizuho upped their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday. Canaccord Genuity Group restated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Barclays upped their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group raised Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th.

Coinbase Global Price Performance

NASDAQ COIN opened at $223.41 on Tuesday. The company has a market cap of $54.13 billion, a P/E ratio of 827.44 and a beta of 3.41. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $217.78 and a 200 day simple moving average of $152.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same period last year, the business posted ($2.46) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global will post 2.43 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $256.19, for a total value of $4,196,392.20. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $1,194,357.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $1,194,357.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. Insiders have sold a total of 660,039 shares of company stock worth $109,435,051 over the last ninety days. Corporate insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. boosted its position in Coinbase Global by 203.0% in the 1st quarter. Sunbelt Securities Inc. now owns 300 shares of the cryptocurrency exchange’s stock valued at $80,000 after buying an additional 201 shares during the last quarter. RMR Wealth Builders acquired a new position in Coinbase Global in the first quarter valued at approximately $254,000. Atlas Capital Advisors LLC boosted its stake in Coinbase Global by 22.1% in the first quarter. Atlas Capital Advisors LLC now owns 3,900 shares of the cryptocurrency exchange’s stock valued at $1,034,000 after acquiring an additional 705 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Coinbase Global during the 1st quarter worth $282,000. Finally, Riverview Trust Co bought a new stake in shares of Coinbase Global during the 1st quarter valued at $43,000. 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.