Mizuho Cuts Coinbase Global (NASDAQ:COIN) Price Target to $217.00

by · The Markets Daily

Coinbase Global (NASDAQ:COIN) had its target price reduced by Mizuho from $280.00 to $217.00 in a research note issued to investors on Tuesday,Benzinga reports. Mizuho currently has a neutral rating on the cryptocurrency exchange’s stock.

Several other analysts also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a research report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective for the company. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.89.

Get Our Latest Analysis on Coinbase Global

Coinbase Global Stock Performance

Coinbase Global stock opened at $177.49 on Tuesday. 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 has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a market cap of $45.06 billion, a price-to-earnings ratio of 18.68 and a beta of 3.66. The stock’s 50-day moving average is $256.83 and its 200-day moving average is $240.64.

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

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the business. Banco Santander S.A. raised its position in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global during the 3rd quarter worth $29,756,000. Wellington Management Group LLP increased its position in Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after buying an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in Coinbase Global in the fourth quarter valued at $252,000. Finally, Virtu Financial LLC acquired a new position in shares of Coinbase Global during the third quarter valued at $3,866,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

(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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