Coinbase Global (NASDAQ:COIN) had its price target raised by equities researchers at Barclays from $73.00 to $77.00 in a research note issued to investors on Monday, The Fly reports. Barclays‘s price target would suggest a potential upside of 14.93% from the stock’s current price.
A number of other equities research analysts also recently commented on COIN. Piper Sandler decreased their target price on Coinbase Global from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Mizuho decreased their target price on Coinbase Global from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, July 14th. JMP Securities decreased their target price on Coinbase Global from $205.00 to $195.00 and set a “market outperform” rating for the company in a report on Wednesday, August 10th. BTIG Research decreased their target price on Coinbase Global to $220.00 in a report on Monday, August 15th. Finally, Wells Fargo & Company began coverage on Coinbase Global in a report on Thursday, September 29th. They set an “underweight” rating and a $57.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $159.65.
Coinbase Global Price Performance
Shares of COIN stock opened at $67.00 on Monday. Coinbase Global has a 1-year low of $40.83 and a 1-year high of $368.90. The stock’s 50-day moving average is $73.94 and its 200 day moving average is $86.49. The company has a market cap of $14.71 billion, a P/E ratio of -33.17 and a beta of 2.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 1.06.
Coinbase Global (NASDAQ:COIN – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.04) by ($1.91). The company had revenue of $808.33 million for the quarter, compared to the consensus estimate of $877.32 million. Coinbase Global had a negative net margin of 4.79% and a negative return on equity of 4.61%. Research analysts predict that Coinbase Global will post -11.14 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Tobias Lutke acquired 3,930 shares of the stock in a transaction on Thursday, August 11th. The shares were bought at an average price of $97.24 per share, with a total value of $382,153.20. Following the completion of the purchase, the director now owns 29,430 shares of the company’s stock, valued at approximately $2,861,773.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Tobias Lutke acquired 3,930 shares of the stock in a transaction on Thursday, August 11th. The shares were bought at an average price of $97.24 per share, with a total value of $382,153.20. Following the completion of the purchase, the director now owns 29,430 shares of the company’s stock, valued at approximately $2,861,773.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 2,177 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $72.00, for a total value of $156,744.00. Following the transaction, the chief accounting officer now directly owns 27,417 shares in the company, valued at approximately $1,974,024. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 45,925 shares of company stock valued at $3,337,428. Insiders own 36.10% of the company’s stock.
Hedge Funds Weigh In On Coinbase Global
Several large investors have recently modified their holdings of COIN. Huntington National Bank lifted its stake in Coinbase Global by 346.4% during the 1st quarter. Huntington National Bank now owns 683 shares of the cryptocurrency exchange’s stock worth $130,000 after acquiring an additional 530 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its stake in Coinbase Global by 10.5% during the 1st quarter. Gladstone Institutional Advisory LLC now owns 2,638 shares of the cryptocurrency exchange’s stock worth $501,000 after acquiring an additional 250 shares in the last quarter. Brown Advisory Inc. lifted its stake in Coinbase Global by 15.2% during the 1st quarter. Brown Advisory Inc. now owns 15,880 shares of the cryptocurrency exchange’s stock worth $3,015,000 after acquiring an additional 2,093 shares in the last quarter. Toronto Dominion Bank lifted its stake in Coinbase Global by 25.6% during the 1st quarter. Toronto Dominion Bank now owns 12,627 shares of the cryptocurrency exchange’s stock worth $2,397,000 after acquiring an additional 2,573 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Coinbase Global by 60.2% during the 1st quarter. Prospera Financial Services Inc now owns 4,344 shares of the cryptocurrency exchange’s stock worth $825,000 after acquiring an additional 1,632 shares in the last quarter. Institutional investors and hedge funds own 49.31% of the company’s stock.
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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