Coinbase Global (NASDAQ:COIN) PT Raised to $204.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective lifted by stock analysts at Barclays from $179.00 to $204.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s target price indicates a potential downside of 4.82% from the company’s previous close.

COIN has been the subject of a number of other research reports. Wedbush lifted their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Mizuho raised their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Oppenheimer boosted their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Finally, Piper Sandler increased their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $193.85.

Coinbase Global Stock Down 5.5 %

COIN opened at $214.34 on Monday. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The business’s fifty day simple moving average is $237.03 and its 200 day simple moving average is $168.14. The stock has a market cap of $51.93 billion, a PE ratio of 42.78 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.46) earnings per share. As a group, research analysts expect that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $147.03, for a total transaction of $3,392,717.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 361,542 shares of company stock worth $81,392,237. 33.16% of the stock is owned by insiders.

Institutional Trading of Coinbase Global

Several hedge funds have recently made changes to their positions in COIN. Geneos Wealth Management Inc. raised its position in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Concord Wealth Partners raised its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Mather Group LLC. bought a new stake in Coinbase Global in the first quarter worth $32,000. Barrett & Company Inc. bought a new position in Coinbase Global during the fourth quarter valued at $26,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $27,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Company Profile

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.