Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $288.44

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given an average rating of “Hold” by the twenty research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $284.17.

Several equities research analysts have issued reports on COIN shares. Barclays increased their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler increased their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st.

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,936,968.98. This represents a 68.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,733 shares of company stock worth $95,173,894. Insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc grew its stake in shares of Coinbase Global by 2.0% during the 4th quarter. AdvisorNet Financial Inc now owns 3,469 shares of the cryptocurrency exchange’s stock worth $861,000 after purchasing an additional 68 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Coinbase Global by 2.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after purchasing an additional 51 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of Coinbase Global by 5.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 1,450 shares of the cryptocurrency exchange’s stock valued at $360,000 after acquiring an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Coinbase Global during the 4th quarter valued at about $213,000. Finally, Cooper Financial Group purchased a new position in shares of Coinbase Global during the 4th quarter worth about $206,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Down 2.9 %

NASDAQ COIN opened at $251.20 on Thursday. Coinbase Global has a 12 month low of $114.51 and a 12 month high of $349.75. The firm has a market capitalization of $62.89 billion, a P/E ratio of 42.87 and a beta of 3.59. The business has a fifty day simple moving average of $288.55 and a 200 day simple moving average of $229.90. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, analysts predict that Coinbase Global will post 4.44 EPS for the current fiscal year.

Coinbase Global Company Profile

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.