Coinbase Global (NASDAQ:COIN) PT Raised to $282.00

Coinbase Global (NASDAQ:COIN) had its target price raised by equities researchers at Oppenheimer from $276.00 to $282.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the cryptocurrency exchange’s stock. Oppenheimer’s target price would indicate a potential upside of 26.32% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays raised their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Mizuho lifted their price objective 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. HC Wainwright increased their target price on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group lowered their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.48.

Coinbase Global Trading Down 2.4 %

Shares of Coinbase Global stock opened at $223.25 on Friday. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The firm has a fifty day moving average price of $236.37 and a 200 day moving average price of $165.79.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.46) EPS. Equities research analysts predict that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of Coinbase Global stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the transaction, the director now directly owns 4,833 shares in the company, valued at $1,256,580. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock worth $86,053,862 in the last ninety days. Insiders own 33.16% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $147,646,000. Morgan Stanley lifted its stake in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new position in shares of Coinbase Global during the fourth quarter worth $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.