Coinbase Global (NASDAQ:COIN) PT Raised to $250.00

Coinbase Global (NASDAQ:COIN) had its price objective upped by research analysts at Wedbush from $200.00 to $250.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the cryptocurrency exchange’s stock. Wedbush’s target price points to a potential upside of 11.98% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Sanford C. Bernstein upped their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Citigroup raised their target price on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, Mizuho lifted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Three investment 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. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $185.48.

Coinbase Global Trading Down 2.4 %

Shares of COIN stock opened at $223.25 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global has a 12-month low of $46.43 and a 12-month high of $283.48. The stock has a market capitalization of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The firm’s 50 day moving average is $236.37 and its 200 day moving average is $165.79.

Coinbase Global (NASDAQ:COIN) last released 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 firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period last year, the business posted ($2.46) EPS. Research analysts expect that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $558,181.26. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 219,490 shares in the company, valued at approximately $50,142,490.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,597 shares of company stock valued at $86,053,862. 33.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in Coinbase Global during the 4th quarter valued at $147,646,000. Morgan Stanley lifted its position in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the last quarter. Hamilton Lane Advisors LLC purchased a new position in Coinbase Global during the fourth quarter worth $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Coinbase Global by 142.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after acquiring an additional 430,546 shares during the last quarter. 68.84% of the stock is owned by 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.