Coinbase Global (NASDAQ:COIN) Price Target Raised to $475.00 at JMP Securities

Coinbase Global (NASDAQ:COIN) had its price objective raised by JMP Securities from $400.00 to $475.00 in a report issued on Friday,Benzinga reports. The firm currently has a market outperform rating on the cryptocurrency exchange’s stock.

Several other equities analysts have also issued reports on the company. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Canaccord Genuity Group boosted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $301.17.

Coinbase Global Stock Down 8.0 %

Shares of NASDAQ:COIN opened at $274.31 on Friday. The company has a market capitalization of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $280.97 and a two-hundred day moving average price of $238.16. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Analysts forecast that Coinbase Global will post 4.81 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 386,798 shares of company stock valued at $114,707,944 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

About Coinbase Global

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.