Coinbase Global, Inc. (NASDAQ:COIN) Receives $248.38 Average PT from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received an average rating of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $248.38.

Several equities research analysts have issued reports on COIN shares. HC Wainwright cut their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Bank of America cut their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th.

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now directly owns 194,971 shares in the company, valued at $45,428,243. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Frederick R. Wilson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $241.28, for a total value of $3,619,200.00. Following the sale, the director now directly owns 180,539 shares of the company’s stock, valued at $43,560,449.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total value of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. The disclosure for this sale can be found here. Insiders sold a total of 126,505 shares of company stock valued at $29,218,061 over the last quarter. 23.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently made changes to their positions in COIN. Quarry LP increased its holdings in shares of Coinbase Global by 205.7% during the second quarter. Quarry LP now owns 532 shares of the cryptocurrency exchange’s stock worth $118,000 after buying an additional 358 shares in the last quarter. Capital Impact Advisors LLC acquired a new position in Coinbase Global during the 2nd quarter worth about $770,000. Seaport Global Advisors LLC acquired a new position in shares of Coinbase Global in the second quarter worth approximately $385,000. Sunbelt Securities Inc. boosted its holdings in Coinbase Global by 84.3% in the second quarter. Sunbelt Securities Inc. now owns 553 shares of the cryptocurrency exchange’s stock valued at $123,000 after acquiring an additional 253 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Coinbase Global by 7.3% during the 2nd quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock valued at $1,081,000 after purchasing an additional 332 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

COIN opened at $205.31 on Monday. The business’s 50-day simple moving average is $225.14 and its 200 day simple moving average is $220.10. Coinbase Global has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $50.42 billion, a PE ratio of 40.98 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned ($0.42) EPS. Coinbase Global’s quarterly revenue was up 104.8% on a year-over-year basis. As a group, sell-side analysts expect that Coinbase Global will post 4.95 earnings per share for the current fiscal year.

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.