Coinbase Global (NASDAQ:COIN) Given New $330.00 Price Target at JMP Securities

Coinbase Global (NASDAQ:COIN) had its target price upped by equities research analysts at JMP Securities from $300.00 to $330.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the cryptocurrency exchange’s stock. JMP Securities’ price target would suggest a potential upside of 26.48% from the company’s current price.

Several other analysts have also issued reports on COIN. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $265.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, August 11th. Rosenblatt Securities upped their price target on shares of Coinbase Global from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, August 11th. Bank of America started coverage on shares of Coinbase Global in a research report on Friday, August 13th. They issued a “neutral” rating and a $273.00 price target for the company. Mizuho upped their price target on shares of Coinbase Global from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 18th. Finally, Canaccord Genuity upped their price target on shares of Coinbase Global from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, August 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $356.21.

NASDAQ COIN traded up $14.13 during trading hours on Thursday, hitting $260.91. 261,901 shares of the company’s stock traded hands, compared to its average volume of 3,195,113. The stock has a fifty day simple moving average of $251.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.30. Coinbase Global has a 52 week low of $208.00 and a 52 week high of $429.54.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Monday, August 9th. The cryptocurrency exchange reported $6.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $4.16. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.83 billion. The business’s revenue for the quarter was up 1040.2% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global will post 13.96 EPS for the current year.

In related news, Director Frederick Ernest Ehrsam III sold 1,835 shares of the company’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $276.35, for a total transaction of $507,102.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Marc L. Andreessen sold 726,487 shares of the company’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $259.60, for a total transaction of $188,596,025.20. The disclosure for this sale can be found here. Insiders sold 938,604 shares of company stock worth $243,067,560 in the last three months.

Hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC bought a new position in Coinbase Global during the second quarter valued at $25,000. Front Row Advisors LLC bought a new position in Coinbase Global during the second quarter valued at $28,000. South State Corp bought a new position in Coinbase Global during the second quarter valued at $30,000. Global Wealth Management Investment Advisory Inc. bought a new position in Coinbase Global during the second quarter valued at $32,000. Finally, Gemmer Asset Management LLC bought a new position in Coinbase Global during the second quarter valued at $33,000. Institutional investors and hedge funds own 20.26% of the company’s stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.

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