Oppenheimer Boosts Coinbase Global (NASDAQ:COIN) Price Target to $282.00

Coinbase Global (NASDAQ:COIN) had its price objective raised by Oppenheimer from $276.00 to $282.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the cryptocurrency exchange’s stock.

Several other research firms also recently commented on COIN. Barclays upped their price objective on Coinbase Global from $146.00 to $179.00 and gave the company an underweight rating in a research note on Monday, April 8th. Sanford C. Bernstein upped their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a market perform rating in a research note on Thursday, April 18th. Citigroup lifted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a neutral rating in a research report on Friday, January 19th. HC Wainwright upped their price objective on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a buy rating in a research report on Monday, April 29th. Finally, Piper Sandler lifted their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a neutral rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of Hold and an average target price of $185.48.

Coinbase Global Stock Performance

COIN traded down $5.60 during trading on Friday, hitting $223.25. 13,739,132 shares of the stock were exchanged, compared to its average volume of 9,158,455. The stock has a fifty day moving average price of $236.37 and a two-hundred day moving average price of $165.79. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The firm has a market capitalization of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

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

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at approximately $4,933,575. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of Coinbase Global stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock worth $86,053,862 in the last ninety days. Insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COIN. Fountainhead AM LLC lifted its position in Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after buying an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Coinbase Global by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after acquiring an additional 81 shares during the period. Nilsine Partners LLC increased its position in Coinbase Global by 1.2% during the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after purchasing an additional 81 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in Coinbase Global by 2.6% in the fourth quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after buying an additional 86 shares during the period. Finally, Concord Wealth Partners lifted its position in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Hedge funds and other 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.