Analysts Set Coinbase Global, Inc. (NASDAQ:COIN) PT at $397.63

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been assigned a consensus recommendation of “Moderate Buy” from the thirty analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $397.6310.

COIN has been the subject of several recent research reports. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Redburn Partners set a $417.00 price objective on Coinbase Global in a report on Friday, October 3rd. JPMorgan Chase & Co. lowered their target price on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $384.00 target price on shares of Coinbase Global in a report on Wednesday, October 29th. Finally, HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and upped their price target for the company from $300.00 to $425.00 in a research report on Thursday, October 30th.

Coinbase Global Price Performance

Shares of COIN opened at $263.26 on Friday. The business has a 50-day simple moving average of $317.53 and a two-hundred day simple moving average of $318.50. Coinbase Global has a 12-month low of $142.58 and a 12-month high of $444.64. The stock has a market cap of $70.99 billion, a PE ratio of 22.77 and a beta of 3.69. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm’s revenue was up 55.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 5,902 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $250.58, for a total value of $1,478,923.16. Following the completion of the sale, the insider directly owned 497 shares in the company, valued at $124,538.26. This trade represents a 92.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $260.33, for a total value of $715,907.50. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 753,971 shares of company stock valued at $233,049,063. 16.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. REAP Financial Group LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $25,000. Evelyn Partners Investment Management Europe Ltd increased its holdings in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Coinbase Global in the third quarter worth approximately $29,000. McClarren Financial Advisors Inc. purchased a new position in shares of Coinbase Global during the first quarter valued at approximately $30,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the second quarter worth $30,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.