Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Coinbase Global (NASDAQ:COIN) had its target price raised by equities research analysts at Keefe, Bruyette & Woods from $255.00 to $305.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 11.19% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Barclays increased their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Monness Crespi & Hardt increased their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.94.

Coinbase Global Trading Down 8.0 %

Shares of NASDAQ COIN opened at $274.31 on Tuesday. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. 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 firm has a 50-day moving average of $280.25 and a 200 day moving average of $238.79. The stock has a market cap of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. As a group, sell-side analysts expect that Coinbase Global will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lawrence J. Brock sold 15,858 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $298.98, for a total value of $4,741,224.84. Following the sale, the insider now directly owns 21,019 shares of the company’s stock, valued at $6,284,260.62. This represents a 43.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 328,529 shares of company stock valued at $95,595,712. 23.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Atala Financial Inc purchased a new stake in Coinbase Global in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the third quarter valued at about $25,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $35,000. 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.