Coinbase Global (NASDAQ:COIN) Given New $254.00 Price Target at Rothschild & Co Redburn

Coinbase Global (NASDAQ:COIN) had its target price cut by research analysts at Rothschild & Co Redburn from $281.00 to $254.00 in a research note issued on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the cryptocurrency exchange’s stock. Rothschild & Co Redburn’s price target would suggest a potential upside of 53.87% from the company’s current price.

A number of other brokerages also recently commented on COIN. UBS Group set a $264.00 target price on Coinbase Global in a research note on Friday, February 13th. Raymond James Financial reiterated a “market perform” rating on shares of Coinbase Global in a research report on Thursday, January 8th. Compass Point cut their price target on Coinbase Global from $190.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Weiss Ratings restated a “hold (c)” rating on shares of Coinbase Global in a research report on Friday, January 9th. Finally, Oppenheimer lowered their price objective on Coinbase Global from $381.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Nineteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $266.07.

Coinbase Global Stock Down 4.6%

COIN stock opened at $165.07 on Thursday. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 3.02 and a beta of 3.60. Coinbase Global has a 1-year low of $139.36 and a 1-year high of $444.64. The firm has a fifty day moving average price of $183.67 and a two-hundred day moving average price of $253.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business posted $4.68 earnings per share. The company’s quarterly revenue was down 21.6% compared to the same quarter last year. Research analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 2,750 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $260.09, for a total transaction of $715,247.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 364,600 shares of Coinbase Global stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $154.95, for a total transaction of $56,494,770.00. Following the sale, the chief financial officer owned 402,165 shares in the company, valued at approximately $62,315,466.75. This represents a 47.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 438,120 shares of company stock valued at $73,878,750 in the last three months. 16.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Advisors Wealth Management LLC lifted its position in shares of Coinbase Global by 2.0% in the 3rd quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock valued at $523,000 after acquiring an additional 30 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Coinbase Global by 37.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock worth $39,000 after purchasing an additional 32 shares in the last quarter. West Family Investments Inc. raised its stake in Coinbase Global by 3.3% during the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock valued at $347,000 after purchasing an additional 33 shares during the period. StoneX Group Inc. lifted its holdings in shares of Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock valued at $690,000 after purchasing an additional 34 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Coinbase Global by 3.4% in the third quarter. Forvis Mazars Wealth Advisors LLC now owns 1,040 shares of the cryptocurrency exchange’s stock valued at $351,000 after purchasing an additional 34 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.