Coinbase Global (NASDAQ:COIN) PT Raised to $240.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $230.00 to $240.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 7.50% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Barclays raised their price target on Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. Bank of America raised their price target on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. Sanford C. Bernstein raised their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Finally, Oppenheimer raised their price target on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $185.48.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $223.25 on Friday. The firm has a market capitalization of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The business’s fifty day moving average price is $236.37 and its 200 day moving average price is $165.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. 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 prior year, the company posted ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Paul Grewal sold 42,113 shares of Coinbase Global stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Haun sold 1,758 shares of Coinbase Global stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.41, for a total value of $368,142.78. Following the transaction, the director now owns 95,630 shares of the company’s stock, valued at $20,025,878.30. The disclosure for this sale can be found here. In the last three months, insiders sold 420,597 shares of company stock worth $86,053,862. Company insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COIN. Norges Bank acquired a new position in Coinbase Global in the 4th quarter valued at $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $147,646,000. Morgan Stanley grew its stake in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Coinbase Global by 142.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.