Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Rating of “Hold” from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $200.63.

Several analysts have recently commented on the stock. Sanford C. Bernstein increased their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Barclays boosted their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research note on Monday. Bank of America raised their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group reduced their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $211.20 on Friday. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 42.16 and a beta of 3.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The firm’s 50-day moving average price is $237.33 and its two-hundred day moving average price is $169.13.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company 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 9.42% and a net margin of 33.98%. The business’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. On average, equities analysts predict that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $224.13, for a total transaction of $5,171,799.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $117,892.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at $1,256,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $224.13, for a total value of $5,171,799.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $117,892.38. The disclosure for this sale can be found here. Insiders sold 361,542 shares of company stock worth $81,392,237 over the last quarter. 33.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Coinbase Global by 5.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange’s stock valued at $2,515,000 after purchasing an additional 1,800 shares in the last quarter. Xponance Inc. increased its position in shares of Coinbase Global by 5.6% in the third quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after acquiring an additional 333 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock worth $282,000 after acquiring an additional 125 shares in the last quarter. Brown Advisory Inc. boosted its position in Coinbase Global by 84.0% during the third quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock valued at $687,000 after purchasing an additional 4,175 shares during the last quarter. Finally, AM Investment Strategies LLC bought a new position in Coinbase Global in the third quarter valued at approximately $629,000. 68.84% of the stock is owned by institutional investors.

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.