Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $295.65.

A number of research analysts have recently commented on COIN shares. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Barclays reduced their target price on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Benchmark assumed coverage on shares of Coinbase Global in a research note on Wednesday. They set a “buy” rating and a $252.00 price target for the company. Piper Sandler increased 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, February 14th. Finally, Cantor Fitzgerald assumed coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 target price for the company.

Check Out Our Latest Stock Analysis on COIN

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $142,540.74. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the sale, the director now directly owns 10,417 shares in the company, valued at $2,922,072.67. This trade represents a 59.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,970 shares of company stock valued at $38,672,615 in the last three months. 23.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global in the fourth quarter worth $372,450,000. Proficio Capital Partners LLC raised its holdings in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Two Sigma Advisers LP lifted its position in Coinbase Global by 445.4% during the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock valued at $101,431,000 after purchasing an additional 333,600 shares during the period. Finally, Wellington Management Group LLP lifted its position in Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after purchasing an additional 302,595 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 2.8 %

Shares of NASDAQ:COIN opened at $209.64 on Friday. The firm has a market capitalization of $53.22 billion, a PE ratio of 22.07 and a beta of 3.65. The business has a 50 day simple moving average of $191.91 and a two-hundred day simple moving average of $242.35. Coinbase Global has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Coinbase Global Company Profile

(Get Free Report

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.

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