Coinbase Global (NASDAQ:COIN) Price Target Increased to $280.00 by Analysts at Canaccord Genuity Group

Coinbase Global (NASDAQ:COIN) had its price target boosted by Canaccord Genuity Group from $240.00 to $280.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the cryptocurrency exchange’s stock.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group upgraded Coinbase Global from a sell rating to a neutral rating in a research report on Friday, March 8th. Mizuho upped their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an underperform rating in a research note on Friday, April 12th. JMP Securities reaffirmed a market outperform rating on shares of Coinbase Global in a research note on Friday, March 22nd. Oppenheimer upped their price target on Coinbase Global from $200.00 to $276.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, TheStreet raised Coinbase Global from a d rating to a c- rating in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $185.48.

Coinbase Global Price Performance

NASDAQ:COIN traded down $5.60 during mid-day trading on Friday, reaching $223.25. The stock had a trading volume of 13,739,132 shares, compared to its average volume of 9,158,455. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a one year low of $46.43 and a one year high of $283.48. The firm has a 50 day moving average price of $236.37 and a two-hundred day moving average price of $165.79. The stock has a market capitalization of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the previous year, the company posted ($2.46) earnings per share. The business’s revenue was up 51.6% on a year-over-year basis. As a group, analysts expect that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Activity

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at $558,181.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $558,181.26. The disclosure for this sale can be found here. Insiders have sold a total of 420,597 shares of company stock valued at $86,053,862 over the last ninety days. 33.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its stake in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares during the period. Concord Wealth Partners raised its stake in shares of Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares during the period. Mather Group LLC. bought a new position in shares of Coinbase Global in the first quarter worth about $32,000. Barrett & Company Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $26,000. Finally, Creekmur Asset Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $27,000. Institutional investors own 68.84% of the company’s stock.

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.