Coinbase Global (NASDAQ:COIN) PT Raised to $200.00

Coinbase Global (NASDAQ:COIN) had its target price upped by Sanford C. Bernstein from $80.00 to $200.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the cryptocurrency exchange’s stock.

Several other equities research analysts also recently commented on the stock. Mizuho upped their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the company an underperform rating in a report on Friday, April 12th. Bank of America upped their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a research note on Wednesday, April 10th. Oppenheimer increased their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. TheStreet raised Coinbase Global from a d rating to a c- rating in a report on Friday, February 16th. Finally, Wedbush boosted their price objective on Coinbase Global from $180.00 to $200.00 and gave the company an outperform rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $165.43.

Coinbase Global Trading Up 2.0 %

NASDAQ:COIN opened at $218.08 on Thursday. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $223.31 and its 200 day moving average is $154.63. The stock has a market capitalization of $52.83 billion, a PE ratio of 807.70 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last issued its 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 firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the company posted ($2.46) earnings per share. Sell-side analysts expect that Coinbase Global will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the sale, the insider now directly owns 61,665 shares in the company, valued at approximately $7,462,698.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now directly owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.29, for a total value of $9,888,773.70. Following the completion of the transaction, the director now owns 120,214 shares in the company, valued at approximately $14,580,756.06. The disclosure for this sale can be found here. Insiders sold a total of 590,978 shares of company stock valued at $103,440,000 over the last quarter. 33.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Barrett & Company Inc. purchased a new stake in Coinbase Global during the 4th quarter valued at about $26,000. Ancora Advisors LLC grew its holdings in shares of Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Tyler Stone Wealth Management purchased a new position in Coinbase Global in the 2nd quarter worth approximately $31,000. Finally, Mather Group LLC. bought a new position in Coinbase Global in the 1st quarter valued at approximately $32,000. 68.84% of the stock is 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.