Coinbase Global (NASDAQ:COIN) PT Raised to $175.00

Coinbase Global (NASDAQ:COIN) had its price target raised by equities research analysts at Barclays from $169.00 to $175.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s price target indicates a potential upside of 4.36% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Compass Point cut their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Bank of America cut their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Hold” and an average target price of $246.44.

Coinbase Global Stock Down 0.7 %

Shares of NASDAQ:COIN opened at $167.69 on Monday. The stock has a market cap of $41.18 billion, a price-to-earnings ratio of 33.47 and a beta of 3.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global has a 12-month low of $70.42 and a 12-month high of $283.48. The business’s 50 day moving average is $182.44 and its 200 day moving average is $215.63.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s quarterly revenue was up 104.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.42) EPS. On average, sell-side analysts forecast that Coinbase Global will post 3.96 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $115,883.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $115,883.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,112 shares of company stock worth $20,596,024. 23.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in Coinbase Global by 4.4% in the 3rd quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock worth $1,076,000 after acquiring an additional 253 shares during the last quarter. Atomi Financial Group Inc. increased its stake in Coinbase Global by 1.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 325,154 shares of the cryptocurrency exchange’s stock worth $57,933,000 after acquiring an additional 4,185 shares during the last quarter. Fulton Bank N.A. increased its stake in Coinbase Global by 1.9% in the 3rd quarter. Fulton Bank N.A. now owns 5,425 shares of the cryptocurrency exchange’s stock worth $967,000 after acquiring an additional 103 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in Coinbase Global by 18.1% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,381 shares of the cryptocurrency exchange’s stock worth $246,000 after acquiring an additional 212 shares during the last quarter. Finally, Smith Anglin Financial LLC increased its stake in Coinbase Global by 42.5% in the 3rd quarter. Smith Anglin Financial LLC now owns 2,296 shares of the cryptocurrency exchange’s stock worth $409,000 after acquiring an additional 685 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.