Coinbase Global (NASDAQ:COIN) Price Target Raised to $275.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective lifted by Keefe, Bruyette & Woods from $165.00 to $275.00 in a research report report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the cryptocurrency exchange’s stock.

COIN has been the subject of a number of other reports. Oppenheimer lifted their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Barclays upped their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price objective on Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $286.22.

Coinbase Global Stock Performance

NASDAQ COIN opened at $278.71 on Friday. Coinbase Global has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a 50 day moving average of $269.18 and a 200-day moving average of $227.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $69.78 billion, a price-to-earnings ratio of 47.56 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $179.69, for a total value of $269,535.00. Following the sale, the chief operating officer now directly owns 186,101 shares in the company, valued at approximately $33,440,488.69. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,720 shares of company stock valued at $79,787,248. Corporate insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of COIN. Principal Financial Group Inc. lifted its position in Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $94,000. Virtu Financial LLC bought a new stake in shares of Coinbase Global in the third quarter valued at about $3,866,000. TD Private Client Wealth LLC acquired a new position in shares of Coinbase Global during the third quarter worth about $77,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Coinbase Global by 25.9% during the third quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock worth $124,000 after buying an additional 143 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.