Coinbase Global’s (COIN) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Coinbase Global (NASDAQ:COIN) in a research report sent to investors on Friday, Benzinga reports. JMP Securities currently has a $320.00 price objective on the cryptocurrency exchange’s stock.

Other equities analysts have also recently issued reports about the stock. HC Wainwright raised their target price on shares of Coinbase Global from $250.00 to $300.00 and gave the company a buy rating in a research note on Monday, April 29th. Oppenheimer upped their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a report on Friday. Sanford C. Bernstein boosted their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a market perform rating in a report on Thursday, April 18th. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the company an underperform rating in a research note on Friday, April 12th. Finally, Bank of America upped their target price on Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $192.60.

Coinbase Global Trading Down 2.4 %

NASDAQ:COIN opened at $223.25 on Friday. 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 has a twelve month low of $46.43 and a twelve month high of $283.48. The company has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46. The business has a 50 day moving average price of $236.37 and a two-hundred day moving average price of $167.06.

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

Insider Buying and Selling at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total transaction of $322,500.00. Following the completion of the sale, the chief operating officer now owns 213,851 shares of the company’s stock, valued at $45,977,965. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Concord Wealth Partners grew its holdings in Coinbase Global by 322.2% during the 1st 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. Mather Group LLC. bought a new stake in Coinbase Global in the 1st quarter worth approximately $32,000. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. Institutional investors own 68.84% of the company’s stock.

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.