Coinbase Global (NASDAQ:COIN) Price Target Raised to $145.00

Coinbase Global (NASDAQ:COIN) had its price target raised by Mizuho from $84.00 to $145.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an underperform rating on the cryptocurrency exchange’s stock.

A number of other brokerages have also weighed in on COIN. TheStreet raised Coinbase Global from a d rating to a c- rating in a research report on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a neutral rating in a research report on Friday, March 15th. HC Wainwright lifted their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a buy rating in a research report on Friday, February 16th. Bank of America boosted their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a research note on Wednesday, April 10th. Finally, Oppenheimer raised their price target on Coinbase Global from $200.00 to $276.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of Hold and an average target price of $163.70.

Coinbase Global Stock Down 9.1 %

COIN stock opened at $223.41 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41. The business’s 50 day moving average price is $217.78 and its two-hundred day moving average price is $152.75. Coinbase Global has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same quarter last year, the company earned ($2.46) EPS. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, analysts forecast that Coinbase Global will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $131.90, for a total value of $12,904,568.40. Following the transaction, the director now owns 201,744 shares of the company’s stock, valued at approximately $26,610,033.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $131.90, for a total value of $12,904,568.40. Following the transaction, the director now owns 201,744 shares of the company’s stock, valued at approximately $26,610,033.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the transaction, the insider now directly owns 61,665 shares in the company, valued at approximately $7,462,698.30. The disclosure for this sale can be found here. Insiders have sold a total of 660,039 shares of company stock valued at $109,435,051 in the last quarter. Insiders own 33.16% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the company. Mather Group LLC. purchased a new stake in shares of Coinbase Global in the 1st quarter valued at $32,000. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. Riverview Trust Co purchased a new stake in shares of Coinbase Global in the 1st quarter valued at $43,000. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the period. Hedge funds and other 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.