Coinbase Global (NASDAQ:COIN) Price Target Raised to $358.00 at Oppenheimer

Coinbase Global (NASDAQ:COIN) had its price objective lifted by equities research analysts at Oppenheimer from $265.00 to $358.00 in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the cryptocurrency exchange’s stock. Oppenheimer’s price target indicates a potential upside of 14.84% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Monness Crespi & Hardt started coverage on Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Needham & Company LLC raised their price objective on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays raised their price objective on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $255.22.

Coinbase Global Stock Up 2.3 %

Shares of NASDAQ COIN opened at $311.75 on Monday. The stock has a market cap of $78.05 billion, a PE ratio of 53.20 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global has a 52-week low of $112.18 and a 52-week high of $341.75. The business has a 50-day moving average price of $214.20 and a 200 day moving average price of $215.18.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. Equities research analysts forecast that Coinbase Global will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 owns 74,956 shares in the company, valued at approximately $12,750,015.60. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,129 shares of company stock valued at $46,522,970. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after buying an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in Coinbase Global during the third quarter valued at approximately $409,919,000. Cowen AND Company LLC raised its stake in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares in the last quarter. Institutional investors and hedge funds 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.