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

Coinbase Global (NASDAQ:COIN) had its price target raised by Oppenheimer from $265.00 to $358.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. Oppenheimer currently has an outperform rating on the cryptocurrency exchange’s stock.

Several other equities analysts also recently weighed in on the stock. Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America increased 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $255.22.

Coinbase Global Stock Performance

COIN opened at $312.22 on Monday. Coinbase Global has a 1-year low of $112.18 and a 1-year high of $341.75. The stock has a market cap of $78.16 billion, a P/E ratio of 53.28 and a beta of 3.34. The stock’s 50 day simple moving average is $217.21 and its 200 day simple moving average is $215.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insider Buying and Selling

In other news, 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 transaction of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the sale, the chief operating officer now directly owns 197,101 shares of the company’s stock, valued at approximately $37,240,262.94. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,129 shares of company stock valued at $46,522,970. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the 3rd quarter worth $25,000. Crewe Advisors LLC lifted its stake in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of Coinbase Global during the second quarter worth about $29,000. Versant Capital Management Inc boosted its position in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $32,000. 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.