Coinbase Global (NASDAQ:COIN) Given New $358.00 Price Target at Oppenheimer

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Oppenheimer from $265.00 to $358.00 in a report published on Monday, MarketBeat reports. They currently have an outperform rating on the cryptocurrency exchange’s stock.

A number of other research firms have also issued reports on COIN. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Piper Sandler reiterated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Mizuho upped their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price objective on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.22.

Coinbase Global Trading Up 6.0 %

NASDAQ COIN opened at $310.98 on Monday. The firm’s 50 day moving average price is $219.83 and its two-hundred day moving average price is $216.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a twelve month low of $114.51 and a twelve month high of $341.75. The stock has a market cap of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. Equities analysts anticipate that Coinbase Global will post 4.27 EPS for the current year.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the transaction, the chief operating officer now owns 177,576 shares in the company, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,219 shares of company stock valued at $65,593,121 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $25,000. Crewe Advisors LLC raised its position in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. Versant Capital Management Inc grew its position in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Coinbase Global in the 3rd quarter valued at approximately $32,000. 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.