Coinbase Global (NASDAQ:COIN) PT Raised to $200.00 at Sanford C. Bernstein

Coinbase Global (NASDAQ:COIN) had its target price upped by equities research analysts at Sanford C. Bernstein from $80.00 to $200.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the cryptocurrency exchange’s stock. Sanford C. Bernstein’s price target suggests a potential downside of 5.22% from the stock’s previous close.

A number of other research firms also recently issued reports on COIN. Bank of America lifted their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, April 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a report on Thursday, March 28th. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Mizuho boosted their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Finally, Citigroup boosted their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.43.

Coinbase Global Stock Performance

Shares of COIN opened at $211.01 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a twelve month low of $46.43 and a twelve month high of $283.48. The firm’s 50 day moving average price is $224.69 and its two-hundred day moving average price is $155.57. The firm has a market cap of $51.12 billion, a P/E ratio of 781.52 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. The business’s revenue was up 51.6% on a year-over-year basis. On average, analysts forecast that Coinbase Global will post 2.43 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the sale, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Kathryn Haun sold 1,758 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.41, for a total transaction of $368,142.78. Following the completion of the sale, the director now owns 95,630 shares of the company’s stock, valued at $20,025,878.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the sale, the insider now directly owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 607,358 shares of company stock valued at $106,945,156. 33.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Mather Group LLC. bought a new stake in Coinbase Global during the first quarter worth about $32,000. Barrett & Company Inc. acquired a new position in Coinbase Global during the fourth quarter worth about $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global during the fourth quarter worth about $27,000. Riverview Trust Co acquired a new position in Coinbase Global during the first quarter worth about $43,000. Finally, Salem Investment Counselors Inc. raised its stake in Coinbase Global by 162.9% during the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.