Coinbase Global (NASDAQ:COIN) Given New $355.00 Price Target at Barclays

Coinbase Global (NASDAQ:COIN) had its target price hoisted by stock analysts at Barclays from $204.00 to $355.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s price objective would indicate a potential upside of 3.31% from the company’s current price.

A number of other equities analysts have also recently commented on COIN. Needham & Company LLC lifted their price target on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Oppenheimer increased their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Piper Sandler restated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Finally, B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $276.22.

Coinbase Global Price Performance

COIN stock opened at $343.62 on Monday. The firm has a market cap of $86.03 billion, a P/E ratio of 58.64 and a beta of 3.56. The firm’s fifty day moving average is $242.71 and its 200 day moving average is $222.28. Coinbase Global has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted ($0.01) earnings per share. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. Research analysts predict that Coinbase Global will post 4.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at $33,150,716.50. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,220 shares of company stock valued at $80,030,608 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global during the third quarter valued at approximately $25,000. Crewe Advisors LLC grew its position in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth $32,000. Spirit of America Management Corp NY bought a new position in Coinbase Global in the 2nd quarter worth $33,000. Finally, Continuum Advisory LLC lifted its position in Coinbase Global by 3,000.0% during the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. 68.84% of the stock is owned by 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.