Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Piper Sandler Analyst Says

Coinbase Global (NASDAQ:COIN) had its price target boosted by equities researchers at Piper Sandler from $285.00 to $310.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the cryptocurrency exchange’s stock. Piper Sandler’s target price suggests a potential upside of 3.99% from the stock’s current price.

Several other research analysts also recently issued reports on COIN. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Monness Crespi & Hardt raised their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods decreased their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, HC Wainwright upped their target price on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.56.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $298.11 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $282.36 and a 200 day moving average price of $237.88. The company has a market cap of $74.63 billion, a price-to-earnings ratio of 50.87 and a beta of 3.61. Coinbase Global has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Research analysts predict that Coinbase Global will post 4.81 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the completion of the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at approximately $52,972,696.56. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 386,798 shares of company stock valued at $114,707,944. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global during the 3rd quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.