Coinbase Global (COIN) Set to Announce Earnings on Thursday

Coinbase Global (NASDAQ:COIN) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Coinbase Global to post earnings of $0.89 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 during 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 company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.46) EPS. On average, analysts expect Coinbase Global to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $213.40 on Tuesday. The company has a market capitalization of $51.70 billion, a price-to-earnings ratio of 808.00 and a beta of 3.41. The business has a 50 day moving average of $232.50 and a 200 day moving average of $163.08. 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 has a 1-year low of $46.43 and a 1-year high of $283.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Thursday, March 28th. Piper Sandler raised their price target on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Citigroup boosted their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Finally, Wedbush boosted their price objective on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $167.81.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 4,662 shares of the company’s stock, valued at $558,181.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the sale, the director now 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 90 days, insiders have sold 542,208 shares of company stock worth $101,867,103. Corporate insiders own 33.16% 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.