Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Rating of “Hold” by Analysts

Coinbase Global, Inc. (NASDAQ:COIN) has been given an average rating of “Hold” by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $246.06.

COIN has been the subject of several research reports. Compass Point decreased their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $206.00 to $169.00 in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Bank of America reduced their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd.

Read Our Latest Stock Report on COIN

Insider Activity

In other news, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at $41,901,248.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at approximately $16,784,221.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the transaction, the chief financial officer now directly owns 182,903 shares in the company, valued at approximately $41,901,248.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,112 shares of company stock valued at $20,596,024 in the last 90 days. 23.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently made changes to their positions in COIN. Wells Fargo & Company MN lifted its holdings in Coinbase Global by 25.1% during the fourth quarter. Wells Fargo & Company MN now owns 45,785 shares of the cryptocurrency exchange’s stock valued at $7,963,000 after purchasing an additional 9,194 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Coinbase Global by 18.4% during the fourth quarter. Franklin Resources Inc. now owns 7,447 shares of the cryptocurrency exchange’s stock valued at $1,295,000 after purchasing an additional 1,156 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Coinbase Global by 540.4% during the fourth quarter. Hsbc Holdings PLC now owns 44,977 shares of the cryptocurrency exchange’s stock valued at $7,829,000 after purchasing an additional 37,954 shares in the last quarter. TD Asset Management Inc lifted its holdings in Coinbase Global by 304.4% during the fourth quarter. TD Asset Management Inc now owns 86,218 shares of the cryptocurrency exchange’s stock valued at $14,995,000 after purchasing an additional 64,897 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in Coinbase Global by 34.3% during the fourth quarter. Alberta Investment Management Corp now owns 4,700 shares of the cryptocurrency exchange’s stock valued at $817,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 4.8 %

Shares of Coinbase Global stock opened at $170.91 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average of $183.75 and a 200 day moving average of $216.66. The firm has a market cap of $41.97 billion, a price-to-earnings ratio of 34.11 and a beta of 3.35. Coinbase Global has a 1 year low of $70.42 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s revenue was up 104.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.42) earnings per share. As a group, sell-side analysts anticipate that Coinbase Global will post 3.96 earnings per share for the current fiscal year.

About Coinbase Global

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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.

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Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

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