Mizuho Issues Positive Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price target hoisted by Mizuho from $160.00 to $178.00 in a report issued on Thursday, Benzinga reports. They currently have an underperform rating on the cryptocurrency exchange’s stock.

Other analysts also recently issued research reports about the company. Needham & Company LLC lifted their price objective on Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $246.28.

Coinbase Global Trading Up 2.0 %

Coinbase Global stock opened at $182.88 on Thursday. The stock has a market cap of $45.44 billion, a P/E ratio of 31.21 and a beta of 3.33. The firm’s 50 day moving average price is $180.98 and its 200-day moving average price is $208.62. Coinbase Global has a 1 year low of $80.81 and a 1 year high of $283.48. 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 released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $1.26 billion. During the same period last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities analysts predict that Coinbase Global will post 4.02 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now owns 74,956 shares in the company, valued at approximately $15,739,260.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at $15,739,260.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,687 shares of company stock worth $14,908,594 in the last three months. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Large investors have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its holdings in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after buying an additional 51 shares in the last quarter. Fifth Third Bancorp raised its holdings in Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares during the last quarter. Versant Capital Management Inc lifted its stake in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Coinbase Global by 12.1% during the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after purchasing an additional 57 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Coinbase Global by 3.1% in the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after purchasing an additional 61 shares in the last quarter. 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.