Coinbase Global (NASDAQ:COIN) Price Target Raised to $145.00

Coinbase Global (NASDAQ:COIN) had its target price boosted by Mizuho from $84.00 to $145.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an underperform rating on the cryptocurrency exchange’s stock.

Several other research analysts have also recently issued reports on the company. Wedbush upped their price target on Coinbase Global from $180.00 to $200.00 and gave the company an outperform rating in a report on Friday, February 16th. 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 report on Wednesday, April 10th. Oppenheimer boosted their target price on shares of Coinbase Global from $200.00 to $276.00 and gave the company an outperform rating in a research note on Thursday, April 4th. JMP Securities restated a market outperform rating on shares of Coinbase Global in a report on Friday, March 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $160.00 to $230.00 and gave the company a market perform rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $163.70.

Coinbase Global Stock Performance

COIN opened at $223.41 on Friday. The company has a market capitalization of $54.13 billion, a price-to-earnings ratio of 827.44 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 business has a 50 day moving average price of $217.78 and a two-hundred day moving average price of $152.75. 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 posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.46) earnings per share. Research analysts predict that Coinbase Global will post 2.43 EPS for the current fiscal year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $256.19, for a total transaction of $4,196,392.20. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $1,194,357.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the transaction, the director now directly owns 4,662 shares in the company, valued at $1,194,357.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 660,039 shares of company stock worth $109,435,051. 33.16% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

A number of hedge funds have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after buying an additional 81 shares during the period. Fountainhead AM LLC lifted its position in shares of Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after buying an additional 81 shares during the period. Arkadios Wealth Advisors lifted its position in shares of Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after buying an additional 86 shares during the period. Stratos Wealth Partners LTD. increased its holdings in Coinbase Global by 2.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after purchasing an additional 90 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Coinbase Global by 34.5% during the 4th quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock valued at $61,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.