Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Price Target at $276.22

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus recommendation of “Hold” from the twenty ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $276.22.

A number of research analysts have weighed in on the stock. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Oppenheimer upped their price target on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Mizuho raised their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd.

Coinbase Global Stock Down 1.2 %

Coinbase Global stock opened at $311.64 on Friday. The business’s 50-day moving average price is $262.68 and its 200 day moving average price is $226.09. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $78.02 billion, a price-to-earnings ratio of 53.18 and a beta of 3.57. Coinbase Global has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. As a group, sell-side analysts anticipate that Coinbase Global will post 4.44 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. This trade represents a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total value of $81,776.00. Following the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,720 shares of company stock valued at $79,787,248. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter valued at $25,000. Crewe Advisors LLC increased its position in shares of 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 purchasing an additional 104 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at about $32,000. Spirit of America Management Corp NY purchased a new stake in Coinbase Global in the 2nd quarter valued at about $33,000. Finally, Continuum Advisory LLC boosted its stake in Coinbase Global by 3,000.0% during the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 150 shares during the period. 68.84% of the stock is owned by hedge funds and other 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.