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

Coinbase Global, Inc. (NASDAQ:COIN) has been given an average recommendation of “Hold” by the twenty-one brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $185.48.

A number of brokerages have recently weighed in on COIN. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Citigroup lifted their price target on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Wedbush upped their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer lifted their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday. Finally, HC Wainwright upped their price target on shares of Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 29th.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at approximately $12,585,661.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the company’s 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 directly owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global 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 sale, the director now owns 4,662 shares of the company’s stock, valued at $558,181.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COIN. Fountainhead AM LLC boosted its holdings in Coinbase Global by 2.1% in the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after purchasing an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Coinbase Global by 0.6% in 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 purchasing an additional 81 shares during the last quarter. Nilsine Partners LLC grew its holdings in Coinbase Global by 1.2% in the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock valued at $1,786,000 after buying an additional 81 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after purchasing an additional 86 shares during the period. Finally, Concord Wealth Partners raised its holdings in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 2.4 %

COIN opened at $223.25 on Friday. The stock’s 50 day moving average price is $235.22 and its 200 day moving average price is $164.76. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $54.09 billion, a P/E ratio of 826.85 and a beta of 3.46. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results 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. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.46) earnings per share. As a group, research analysts predict that Coinbase Global will post 2.71 earnings per share for the current year.

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.