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

Coinbase Global (NASDAQ:COIN) had its target price lifted by Oppenheimer from $265.00 to $358.00 in a research note published on Monday morning, MarketBeat.com reports. Oppenheimer currently has an outperform rating on the cryptocurrency exchange’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Mizuho lifted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $255.22.

Coinbase Global Stock Up 6.0 %

NASDAQ COIN opened at $310.98 on Monday. 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 has a 1-year low of $114.51 and a 1-year high of $341.75. The company has a 50 day moving average of $222.79 and a 200-day moving average of $217.21. The company has a market cap of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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 net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now owns 79,407 shares in the company, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,719 shares of company stock valued at $65,309,711. 23.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the business. Banco Santander S.A. lifted its holdings in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the period. Global Retirement Partners LLC lifted its holdings in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after buying an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global in the third quarter valued at $29,756,000. Lindbrook Capital LLC lifted its holdings in Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after buying an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Coinbase Global in the second quarter valued at $2,908,000. 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.