Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $311.56.

Several research firms have recently issued reports on COIN. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Mizuho reduced their price objective on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Barclays boosted 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, February 14th. Finally, Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th.

Coinbase Global Stock Performance

Shares of COIN opened at $212.55 on Friday. The firm has a market capitalization of $53.96 billion, a P/E ratio of 22.37 and a beta of 3.61. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The stock has a 50 day moving average price of $265.52 and a two-hundred day moving average price of $241.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced 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 return on equity of 20.64% and a net margin of 39.34%. Equities analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. The trade was a 33.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,455 shares of company stock worth $60,955,968. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Banco Santander S.A. lifted its holdings in shares of Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC lifted its stake in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Coinbase Global by 237.5% during the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after purchasing an additional 23,040 shares in the last quarter. 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.