Coinbase Global (NASDAQ:COIN) PT Raised to $200.00

Coinbase Global (NASDAQ:COIN) had its target price boosted by Sanford C. Bernstein from $80.00 to $200.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the cryptocurrency exchange’s stock. Sanford C. Bernstein’s target price indicates a potential downside of 10.28% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. HC Wainwright upped their price target on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Canaccord Genuity Group reissued a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Bank of America upped their price target on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Barclays raised their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Finally, Mizuho raised their target price on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.43.

Coinbase Global Stock Up 4.3 %

NASDAQ COIN traded up $9.13 on Thursday, reaching $222.91. The company had a trading volume of 5,898,653 shares, compared to its average volume of 13,930,639. The firm has a market capitalization of $54.00 billion, a PE ratio of 830.74 and a beta of 3.41. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a 50-day moving average of $221.60 and a 200-day moving average of $154.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 700 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the sale, the chief operating officer now directly owns 225,142 shares in the company, valued at approximately $29,333,751.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 590,978 shares of company stock worth $103,440,000. 33.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in COIN. Barrett & Company Inc. bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $26,000. Ancora Advisors LLC raised its stake in shares of Coinbase Global by 144.0% in the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after acquiring an additional 435 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Tyler Stone Wealth Management bought a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $31,000. Finally, Mather Group LLC. bought a new position in shares of Coinbase Global in the 1st quarter valued at approximately $32,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.