Coinbase Global (NASDAQ:COIN) PT Lowered to $260.00

Coinbase Global (NASDAQ:COIN) had its target price dropped by stock analysts at Needham & Company LLC from $275.00 to $260.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the cryptocurrency exchange’s stock. Needham & Company LLC’s price objective suggests a potential upside of 16.46% from the stock’s current price.

A number of other research firms also recently commented on COIN. Sanford C. Bernstein upped their price objective on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Canaccord Genuity Group increased their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday. Barclays lifted their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Finally, HC Wainwright boosted their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $185.48.

Coinbase Global Stock Down 2.4 %

Shares of NASDAQ COIN opened at $223.25 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The firm’s 50-day moving average is $236.37 and its 200-day moving average is $165.79. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period last year, the firm earned ($2.46) earnings per share. Equities analysts expect that Coinbase Global will post 2.71 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the transaction, the director now owns 4,833 shares of the company’s stock, valued at $1,256,580. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now owns 4,833 shares in the company, valued at $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the transaction, the chief operating officer now owns 213,851 shares of the company’s stock, valued at $45,977,965. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock valued at $86,053,862 over the last 90 days. 33.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after purchasing an additional 408,046 shares during the last quarter. Morgan Stanley raised its stake in Coinbase Global by 18.5% in the third 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. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $202,936,000. Northern Trust Corp boosted its stake in shares of Coinbase Global by 4.3% during the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after acquiring an additional 37,019 shares during the period. Finally, a16z Perennial Management L.P. acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $147,646,000. 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.