Coinbase Global’s (COIN) Buy Rating Reiterated at Rosenblatt Securities

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $305.00 price target on the cryptocurrency exchange’s stock. Rosenblatt Securities’ target price points to a potential upside of 61.74% from the stock’s current price.

Several other brokerages also recently weighed in on COIN. Bank of America lowered their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. JMP Securities boosted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Mizuho lowered their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Trading Down 2.8 %

NASDAQ:COIN opened at $188.58 on Wednesday. The stock has a market capitalization of $47.88 billion, a price-to-earnings ratio of 19.85 and a beta of 3.66. Coinbase Global has a 52 week low of $146.12 and a 52 week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $241.79 and a 200 day moving average of $241.51.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of COIN. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $25,000. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at $25,000. Copia Wealth Management acquired a new stake in Coinbase Global in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the 4th quarter worth $27,000. Finally, Atala Financial Inc acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Hedge funds and other institutional investors 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.