Coinbase Global (NASDAQ:COIN) PT Raised to $175.00

Coinbase Global (NASDAQ:COIN) had its target price raised by stock analysts at Barclays from $169.00 to $175.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s price target suggests a potential upside of 4.36% from the stock’s current price.

COIN has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. Bank of America dropped their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, HC Wainwright dropped their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $246.44.

Coinbase Global Price Performance

COIN opened at $167.69 on Monday. The stock has a 50-day moving average price of $182.44 and a 200-day moving average price of $215.63. Coinbase Global has a 12-month low of $70.42 and a 12-month 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 0.51. The stock has a market capitalization of $41.18 billion, a P/E ratio of 33.47 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company posted ($0.42) earnings per share. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. Equities analysts predict that Coinbase Global will post 3.96 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $16,784,221.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $16,784,221.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.70, for a total value of $344,550.00. Following the transaction, the chief operating officer now directly owns 196,471 shares of the company’s stock, valued at approximately $45,129,388.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,112 shares of company stock valued at $20,596,024 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. boosted its stake in Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after purchasing an additional 486,512 shares during the last quarter. American Century Companies Inc. boosted its stake in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Finally, APEIRON CAPITAL Ltd purchased a new stake in Coinbase Global during the 1st quarter valued at $108,434,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.