Mizuho Boosts Coinbase Global (NASDAQ:COIN) Price Target to $200.00

Coinbase Global (NASDAQ:COIN) had its price target lifted by equities research analysts at Mizuho from $170.00 to $200.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the cryptocurrency exchange’s stock. Mizuho’s target price suggests a potential downside of 0.89% from the company’s previous close.

Several other equities research analysts have also commented on COIN. Cantor Fitzgerald upped their price objective on Coinbase Global from $221.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Rothschild & Co Redburn lowered their price target on shares of Coinbase Global from $281.00 to $254.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. HC Wainwright dropped their price target on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Monness Crespi & Hardt reaffirmed a “sell” rating and issued a $110.00 price objective (down from $115.00) on shares of Coinbase Global in a report on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $251.91.

Get Our Latest Research Report on COIN

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $201.80 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. Coinbase Global has a 12 month low of $139.36 and a 12 month high of $444.64. The company has a 50 day simple moving average of $191.07 and a two-hundred day simple moving average of $223.41. The stock has a market cap of $53.29 billion, a price-to-earnings ratio of 75.86, a PEG ratio of 7.43 and a beta of 3.38.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm’s revenue was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. As a group, analysts predict that Coinbase Global will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares of the company’s stock, valued at approximately $75,440,200. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 29,990 shares of company stock valued at $6,013,920. 16.66% of the stock is currently owned by insiders.

Institutional Trading of Coinbase Global

Several institutional investors have recently modified their holdings of COIN. REAP Financial Group LLC acquired a new stake in Coinbase Global in the 3rd quarter worth about $25,000. MV Capital Management Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Palisade Asset Management LLC acquired a new position in shares of Coinbase Global during the third quarter valued at approximately $29,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $30,000. Finally, Archer Investment Corp lifted its position in shares of Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global News Roundup

Here are the key news stories impacting Coinbase Global this week:

Coinbase Global Company Profile

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Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

Further Reading

Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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