Mizuho Lowers Coinbase Global (NASDAQ:COIN) Price Target to $280.00

Coinbase Global (NASDAQ:COIN) had its price objective reduced by analysts at Mizuho from $290.00 to $280.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the cryptocurrency exchange’s stock. Mizuho’s price objective points to a potential upside of 10.71% from the company’s current price.

COIN has been the topic of several other reports. JMP Securities raised their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Oppenheimer decreased their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $303.39.

Coinbase Global Stock Performance

Coinbase Global stock traded down $5.77 during midday trading on Thursday, hitting $252.90. The company’s stock had a trading volume of 2,870,731 shares, compared to its average volume of 8,445,759. Coinbase Global has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a 50-day moving average price of $278.39 and a two-hundred day moving average price of $239.35. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 26.63 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts predict that Coinbase Global will post 6.51 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,386,983.38. This trade represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 336,143 shares of company stock valued at $97,842,603 over the last quarter. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after buying an additional 128,802 shares during the last quarter. Geode Capital Management LLC grew its holdings in Coinbase Global by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new stake in Coinbase Global during the third quarter worth about $409,919,000. Finally, Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $536,484,000. 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.