Coinbase Global (NASDAQ:COIN) Posts Earnings Results, Beats Estimates By $2.93 EPS

Coinbase Global, Inc. (NASDAQ:COIN) issued its quarterly earnings data on Thursday. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93, Zacks reports. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%.

Coinbase Global Stock Down 8.0 %

Shares of NASDAQ COIN opened at $274.31 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61. The stock has a 50 day moving average price of $280.97 and a 200 day moving average price of $238.16. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $250.00 to $290.00 in a research note on Wednesday, January 29th. Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday. HC Wainwright boosted their price objective on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 objective on the stock. Finally, Oppenheimer reduced their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.17.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. This represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 386,798 shares of company stock worth $114,707,944. Company insiders own 23.43% 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.