Coinbase Global (NASDAQ:COIN) had its price target upped by equities researchers at JPMorgan Chase & Co. from $64.00 to $78.00 in a research report issued to clients and investors on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.65% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Citigroup dropped their price objective on shares of Coinbase Global from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. The Goldman Sachs Group increased their target price on shares of Coinbase Global from $45.00 to $51.00 and gave the company a “sell” rating in a research report on Thursday, August 11th. BTIG Research decreased their price target on shares of Coinbase Global to $220.00 in a research note on Monday, August 15th. Cowen started coverage on shares of Coinbase Global in a research note on Thursday, May 26th. They set an “outperform” rating and a $85.00 price target for the company. Finally, Moffett Nathanson decreased their price target on shares of Coinbase Global from $600.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.14.
Coinbase Global Price Performance
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Coinbase Global stock opened at $75.25 on Wednesday. Coinbase Global has a 52-week low of $40.83 and a 52-week high of $368.90. The company’s 50 day moving average is $71.00 and its two-hundred day moving average is $100.59. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm has a market cap of $16.52 billion, a PE ratio of -37.25 and a beta of 3.31.
Coinbase Global (NASDAQ:COIN – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) EPS for the quarter, missing analysts’ consensus estimates of ($3.04) by ($1.91). Coinbase Global had a negative net margin of 4.79% and a negative return on equity of 4.61%. The firm had revenue of $808.33 million during the quarter, compared to analysts’ expectations of $877.32 million. On average, research analysts expect that Coinbase Global will post -11.02 EPS for the current fiscal year.
Insider Buying and Selling at Coinbase Global
In other Coinbase Global news, CAO Jennifer N. Jones sold 4,512 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $97.24, for a total transaction of $438,746.88. Following the completion of the transaction, the chief accounting officer now directly owns 27,417 shares in the company, valued at approximately $2,666,029.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Jennifer N. Jones sold 4,512 shares of Coinbase Global stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $97.24, for a total transaction of $438,746.88. Following the completion of the sale, the chief accounting officer now directly owns 27,417 shares in the company, valued at $2,666,029.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer N. Jones sold 2,177 shares of Coinbase Global stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.00, for a total transaction of $156,744.00. Following the sale, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at $1,974,024. The disclosure for this sale can be found here. In the last three months, insiders acquired 24,601 shares of company stock worth $1,863,254. 36.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Coinbase Global
A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Huntington National Bank grew its holdings in Coinbase Global by 346.4% in the first quarter. Huntington National Bank now owns 683 shares of the cryptocurrency exchange’s stock valued at $130,000 after purchasing an additional 530 shares during the period. Gladstone Institutional Advisory LLC lifted its position in Coinbase Global by 10.5% during the first quarter. Gladstone Institutional Advisory LLC now owns 2,638 shares of the cryptocurrency exchange’s stock valued at $501,000 after buying an additional 250 shares in the last quarter. Brown Advisory Inc. lifted its position in Coinbase Global by 15.2% during the first quarter. Brown Advisory Inc. now owns 15,880 shares of the cryptocurrency exchange’s stock valued at $3,015,000 after buying an additional 2,093 shares in the last quarter. Toronto Dominion Bank lifted its position in Coinbase Global by 25.6% during the first quarter. Toronto Dominion Bank now owns 12,627 shares of the cryptocurrency exchange’s stock valued at $2,397,000 after buying an additional 2,573 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Coinbase Global by 24.9% during the fourth quarter. Squarepoint Ops LLC now owns 25,820 shares of the cryptocurrency exchange’s stock valued at $6,516,000 after buying an additional 5,140 shares in the last quarter. 49.31% 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 cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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