Analysts Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $215.50

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus recommendation of “Hold” from the twenty research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $215.50.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research note on Wednesday, June 5th. Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and raised their target price for the company from $110.00 to $217.00 in a research note on Friday, May 17th. Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $315.00 target price on shares of Coinbase Global in a research note on Tuesday, June 18th.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $224.00 on Friday. The stock has a market capitalization of $55.01 billion, a price-to-earnings ratio of 44.71 and a beta of 3.44. The business has a 50-day moving average of $227.48 and a 200-day moving average of $200.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global has a fifty-two week low of $68.15 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, sell-side analysts predict that Coinbase Global will post 5.01 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total value of $293,850.00. Following the transaction, the chief operating officer now directly owns 204,436 shares of the company’s stock, valued at $40,049,012.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total value of $293,850.00. Following the transaction, the chief operating officer now directly owns 204,436 shares of the company’s stock, valued at $40,049,012.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $1,134,264.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 360,021 shares of company stock valued at $80,655,822. 23.43% of the stock is currently owned by company insiders.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. PNC Financial Services Group Inc. grew its stake in shares of Coinbase Global by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,030 shares of the cryptocurrency exchange’s stock worth $378,000 after buying an additional 145 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Coinbase Global by 4.2% during the third quarter. Kestra Advisory Services LLC now owns 7,338 shares of the cryptocurrency exchange’s stock worth $551,000 after buying an additional 293 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Coinbase Global during the third quarter worth $536,000. Envestnet Asset Management Inc. grew its stake in shares of Coinbase Global by 55.0% during the third quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock worth $3,579,000 after buying an additional 16,914 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Coinbase Global by 96.8% during the third quarter. Dark Forest Capital Management LP now owns 15,879 shares of the cryptocurrency exchange’s stock worth $1,192,000 after purchasing an additional 7,809 shares during the period. Institutional investors own 68.84% of the company’s stock.

About Coinbase Global

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.