Analysts’ Recent Ratings Changes for Coinbase Global (COIN)

Several analysts have recently updated their ratings and price targets for Coinbase Global (NASDAQ: COIN):

• 11/1/2024 – Coinbase Global had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $245.00 price target on the stock.
• 10/31/2024 – Coinbase Global had its price target raised by analysts at Mizuho from $160.00 to $178.00. They now have an “underperform” rating on the stock.
• 10/31/2024 – Coinbase Global had its price target raised by analysts at Bank of America Co. from $196.00 to $214.00. They now have a “neutral” rating on the stock.
• 10/31/2024 – Coinbase Global had its price target raised by analysts at Barclays PLC from $175.00 to $204.00. They now have an “equal weight” rating on the stock.
• 10/31/2024 – Coinbase Global had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $280.00 price target on the stock.
• 10/31/2024 – Coinbase Global had its price target raised by analysts at Needham & Company LLC from $260.00 to $290.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Coinbase Global had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $295.00 price target on the stock.
• 10/28/2024 – Coinbase Global is now covered by analysts at Monness Crespi & Hardt. They set a “buy” rating and a $245.00 price target on the stock.
• 10/23/2024 – Coinbase Global is now covered by analysts at B. Riley. They set a “neutral” rating and a $185.00 price target on the stock.
• 10/22/2024 – Coinbase Global was upgraded by analysts at B. Riley to a “hold” rating.
• 10/9/2024 – Coinbase Global had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $320.00 price target on the stock.
• 10/7/2024 – Coinbase Global had its price target raised by analysts at Barclays PLC from $169.00 to $175.00. They now have an “equal weight” rating on the stock.

Coinbase Global Stock Performance

COIN stock traded up $32.59 on Wednesday, hitting $226.55. The company’s stock had a trading volume of 9,813,795 shares, compared to its average volume of 10,432,326. The stock has a market cap of $56.29 billion, a price-to-earnings ratio of 38.66 and a beta of 3.34. The firm has a 50 day moving average of $180.63 and a two-hundred day moving average of $208.40. 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, Inc. has a 1 year low of $84.30 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released 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 return on equity of 14.81% and a net margin of 29.76%. 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 prior year, the business earned ($0.01) EPS. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. Equities analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $188.94, for a total value of $283,410.00. Following the completion of the transaction, the chief operating officer now owns 197,101 shares in the company, valued at approximately $37,240,262.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,187 shares of company stock worth $15,213,544 over the last 90 days. 23.43% of the stock is currently owned by insiders.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently made changes to their positions in COIN. Creative Financial Designs Inc. ADV boosted its stake in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares in the last quarter. Fifth Third Bancorp grew its holdings in Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after purchasing an additional 55 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Larson Financial Group LLC raised its stake 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 buying an additional 57 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.