Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has earned a consensus rating of “Moderate Buy” from the twenty research firms that are covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $266.40.

A number of research firms have issued reports on COIN. Rosenblatt Securities restated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a report on Monday, May 12th. JMP Securities restated a “market outperform” rating and set a $400.00 price target on shares of Coinbase Global in a report on Thursday, May 8th. Oppenheimer set a $293.00 price target on Coinbase Global in a report on Thursday, May 15th. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group increased their target price on Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a report on Monday, May 12th.

Insider Activity

In other 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 completion of the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,764 shares of company stock valued at $35,671,592 in the last ninety days. 17.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. bought a new stake in Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management bought a new stake in Coinbase Global in the 4th quarter valued at about $26,000. Bessemer Group Inc. raised its stake in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after acquiring an additional 113 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the 4th quarter valued at about $27,000. Finally, Atala Financial Inc bought a new stake in Coinbase Global in the 4th quarter valued at about $27,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $261.38 on Wednesday. The company has a market capitalization of $66.36 billion, a PE ratio of 27.51 and a beta of 3.62. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a 50 day simple moving average of $194.78 and a two-hundred day simple moving average of $245.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 earnings per share. Research analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

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.