Coinbase Global (NASDAQ:COIN) Price Target Raised to $275.00

Coinbase Global (NASDAQ:COIN) had its price objective upped by analysts at Keefe, Bruyette & Woods from $165.00 to $275.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 0.39% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Monness Crespi & Hardt lifted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Finally, Oppenheimer upped their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $286.22.

Coinbase Global Stock Down 2.1 %

Shares of NASDAQ COIN opened at $273.92 on Friday. Coinbase Global has a 12-month low of $114.51 and a 12-month high of $349.75. The stock’s fifty day simple moving average is $267.14 and its two-hundred day simple moving average is $226.79. The stock has a market capitalization of $68.58 billion, a PE ratio of 46.74 and a beta of 3.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, analysts expect that Coinbase Global will post 4.44 EPS for the current fiscal year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the sale, the insider now directly owns 74,956 shares in the company, valued at $12,750,015.60. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,720 shares of company stock valued at $79,787,248 in the last ninety days. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of COIN. Principal Financial Group Inc. grew its stake in shares of Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after purchasing an additional 36,843 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Coinbase Global during the third quarter valued at $94,000. Virtu Financial LLC acquired a new stake in Coinbase Global during the third quarter valued at $3,866,000. TD Private Client Wealth LLC purchased a new position in Coinbase Global in the third quarter valued at $77,000. Finally, Sunbelt Securities Inc. raised its position in shares of Coinbase Global by 25.9% in the third quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock worth $124,000 after acquiring an additional 143 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

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.