Coinbase Global (NASDAQ:COIN) Price Target Raised to $204.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective boosted by Barclays from $179.00 to $204.00 in a report published on Monday morning, Benzinga reports. The firm currently has an underweight rating on the cryptocurrency exchange’s stock.

Other research analysts have also recently issued research reports about the company. Bank of America increased their price target on Coinbase Global from $92.00 to $110.00 and gave the stock an underperform rating in a research note on Wednesday, April 10th. Wedbush raised their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the company an outperform rating in a research note on Friday. Canaccord Genuity Group upped their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a buy rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a neutral rating in a report on Friday, March 15th. Finally, HC Wainwright upped their target price on Coinbase Global from $250.00 to $300.00 and gave the stock a buy rating in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $193.85.

Coinbase Global Trading Up 1.6 %

Coinbase Global stock opened at $226.93 on Monday. Coinbase Global has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $54.98 billion, a price-to-earnings ratio of 45.30 and a beta of 3.46. The firm has a 50-day moving average price of $236.37 and a two-hundred day moving average price of $167.06.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the previous year, the company posted ($2.46) earnings per share. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 42,113 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $274.97, for a total value of $4,504,008.60. Following the transaction, the director now owns 4,662 shares in the company, valued at approximately $1,281,910.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 42,113 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 420,597 shares of company stock valued at $86,053,862. Company insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of the stock. Fountainhead AM LLC grew its stake in Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after purchasing an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after buying an additional 81 shares in the last quarter. Nilsine Partners LLC increased its holdings in Coinbase Global by 1.2% in the first quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after buying an additional 81 shares during the last quarter. Arkadios Wealth Advisors raised its position in Coinbase Global by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Finally, Concord Wealth Partners lifted its stake in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Company Profile

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.