Jefferies Financial Group Reiterates Hold Rating for Coinbase Global (NASDAQ:COIN)

Coinbase Global (NASDAQ:COIN)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Financial Group in a note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $260.00 price objective on the cryptocurrency exchange’s stock, up from their prior price objective of $210.00. Jefferies Financial Group’s target price would indicate a potential upside of 2.25% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $400.00 price target on shares of Coinbase Global in a research note on Thursday, May 8th. The Goldman Sachs Group boosted their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. Piper Sandler boosted their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Benchmark boosted their target price on shares of Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Finally, Mizuho reduced their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.10.

Coinbase Global Stock Down 4.5%

COIN opened at $254.29 on Tuesday. Coinbase Global has a fifty-two week low of $142.58 and a fifty-two week 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 firm’s fifty day moving average price is $203.87 and its two-hundred day moving average price is $246.61. The company has a market capitalization of $64.56 billion, a P/E ratio of 26.77 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. On average, analysts anticipate that Coinbase Global will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $104,226.90. The trade was a 95.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 1,952 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total value of $488,000.00. Following the sale, the insider now directly owns 81,773 shares of the company’s stock, valued at $20,443,250. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,786 shares of company stock valued at $33,345,024. 17.65% of the stock is currently owned by insiders.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $26,000. Bessemer Group Inc. increased its stake in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after acquiring an additional 113 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. Finally, Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. 68.84% of the stock is 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.