Coinbase Global (NASDAQ:COIN) Upgraded to “Outperform” at Mizuho

Mizuho upgraded shares of Coinbase Global (NASDAQ:COIN) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Mizuho currently has $290.00 price objective on the cryptocurrency exchange’s stock, up from their previous price objective of $250.00.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Monness Crespi & Hardt lifted their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC increased their target price on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their price target on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, B. Riley initiated 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. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Coinbase Global Trading Up 3.3 %

Shares of NASDAQ:COIN opened at $291.00 on Wednesday. Coinbase Global has a 1 year low of $114.51 and a 1 year high of $349.75. The stock’s fifty day moving average price is $288.15 and its 200-day moving average price is $235.21. The company has a market cap of $72.85 billion, a P/E ratio of 49.66 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) 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 company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business earned ($0.01) EPS. The business’s revenue was up 78.8% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global will post 4.81 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total transaction of $2,548,900.00. Following the completion of the transaction, the director now directly owns 90,000 shares in the company, valued at $22,940,100. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the company. MGB Wealth Management LLC bought a new position in Coinbase Global during the fourth quarter valued at approximately $740,000. Clarity Capital Partners LLC boosted its position in shares of Coinbase Global by 1.0% during the 4th quarter. Clarity Capital Partners LLC now owns 16,840 shares of the cryptocurrency exchange’s stock valued at $4,181,000 after acquiring an additional 159 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Coinbase Global by 4.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,592 shares of the cryptocurrency exchange’s stock valued at $2,210,000 after purchasing an additional 356 shares in the last quarter. Gladstone Institutional Advisory LLC increased its position in Coinbase Global by 62.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,537 shares of the cryptocurrency exchange’s stock worth $878,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Capital Advisors Inc. OK purchased a new stake in Coinbase Global during the fourth quarter valued at $223,000. 68.84% of the stock is owned by 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.