Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Piper Sandler Analyst Says

Coinbase Global (NASDAQ:COIN) had its price target raised by Piper Sandler from $245.00 to $285.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the cryptocurrency exchange’s stock.

COIN has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Oppenheimer raised their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Needham & Company LLC increased their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $288.44.

Coinbase Global Price Performance

Shares of COIN opened at $264.33 on Tuesday. The stock has a 50 day simple moving average of $283.16 and a 200 day simple moving average of $228.80. Coinbase Global has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $66.18 billion, a PE ratio of 45.11 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned ($0.01) EPS. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global will post 4.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $181.36, for a total transaction of $272,040.00. Following the completion of the sale, the chief operating officer now directly owns 176,601 shares of the company’s stock, valued at approximately $32,028,357.36. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 305,641 shares of company stock valued at $90,030,923. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global during the 3rd quarter worth $32,000. Brown Brothers Harriman & Co. raised its holdings in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after acquiring an additional 181 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth $55,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.