Coinbase Global (NASDAQ:COIN) Given New $355.00 Price Target at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by research analysts at Barclays from $204.00 to $355.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the cryptocurrency exchange’s stock. Barclays‘s price target points to a potential upside of 17.39% from the stock’s previous close.

Several other brokerages also recently commented on COIN. Needham & Company LLC boosted their target price on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $276.22.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $302.42 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $75.71 billion, a PE ratio of 51.61 and a beta of 3.56. The company has a 50 day moving average of $248.10 and a 200-day moving average of $223.38. Coinbase Global has a 1-year low of $114.51 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted ($0.01) EPS. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global will post 4.44 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at $12,750,015.60. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,220 shares of company stock worth $80,030,608. Company insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global in the third quarter valued at $25,000. Crewe Advisors LLC raised its stake in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the period. ORG Wealth Partners LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $32,000. Spirit of America Management Corp NY bought a new stake in Coinbase Global during the 2nd quarter valued at $33,000. Finally, Continuum Advisory LLC lifted its stake in shares of Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.