Coinbase Global (NASDAQ:COIN) Shares Up 0.4% – Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN) shot up 0.4% on Tuesday . The company traded as high as $284.84 and last traded at $279.00. 1,765,081 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 8,279,057 shares. The stock had previously closed at $277.99.

Analysts Set New Price Targets

Several analysts have commented on COIN shares. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $250.00 to $290.00 in a report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Piper Sandler upped their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Trading Up 3.5 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $75.43 billion, a price-to-earnings ratio of 51.42 and a beta of 3.59. The company’s 50-day moving average is $288.15 and its 200-day moving average is $235.21.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. Research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the sale, the director now owns 90,000 shares of the company’s stock, valued at $22,940,100. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the transaction, the insider now owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,205 shares of company stock valued at $112,487,737 in the last quarter. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the 3rd quarter worth about $32,000. MassMutual Private Wealth & Trust FSB raised its position in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.