Coinbase Global (NASDAQ:COIN) PT Raised to $204.00

Coinbase Global (NASDAQ:COIN) had its price target boosted by Barclays from $179.00 to $204.00 in a research report released on Monday, Benzinga reports. Barclays currently has an underweight rating on the cryptocurrency exchange’s stock.

Several other research firms have also recently commented on COIN. Piper Sandler raised their price target on Coinbase Global from $225.00 to $245.00 and gave the company a neutral rating in a report on Friday, April 12th. HC Wainwright boosted their target price on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a buy rating in a research report on Monday, April 29th. Oppenheimer upped their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Raymond James upgraded shares of Coinbase Global from an underperform rating to a market perform rating in a research note on Tuesday, March 12th. Finally, The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $295.00 to $255.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $200.63.

Coinbase Global Stock Performance

Shares of COIN opened at $210.45 on Monday. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48. The stock has a market capitalization of $50.99 billion, a P/E ratio of 42.01 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average is $237.68 and its two-hundred day moving average is $169.71.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.46) earnings per share. On average, sell-side analysts predict that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Activity

In other Coinbase Global news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now owns 4,833 shares in the company, valued at $1,256,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The disclosure for this sale can be found here. Insiders have sold 361,542 shares of company stock worth $81,392,237 over the last three months. 33.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after purchasing an additional 408,046 shares during the period. Morgan Stanley boosted its holdings in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter valued at approximately $202,936,000. Northern Trust Corp increased its holdings in Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after purchasing an additional 37,019 shares during the last quarter. Finally, a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global in the 4th quarter valued at approximately $147,646,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.