Coinbase Global (NASDAQ:COIN) Price Target Raised to $204.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price target upped by Barclays from $179.00 to $204.00 in a research note released on Monday, Benzinga reports. Barclays currently has an underweight rating on the cryptocurrency exchange’s stock.

Several other analysts also recently weighed in on the company. JMP Securities reiterated a market outperform rating and set a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Wedbush increased their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an outperform rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a neutral rating in a research note on Friday, March 15th. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the company a market perform rating in a report on Friday, May 3rd. Finally, Bank of America boosted their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Coinbase Global currently has a consensus rating of Hold and an average price target of $200.63.

Coinbase Global Stock Performance

COIN opened at $211.20 on Monday. The company has a market cap of $51.17 billion, a P/E ratio of 42.16 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $237.33 and its 200-day moving average price is $169.13. Coinbase Global has a 52-week low of $46.43 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Coinbase Global’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) EPS. As a group, equities analysts anticipate that Coinbase Global will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $147.03, for a total transaction of $3,392,717.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 361,542 shares of company stock valued at $81,392,237. 33.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

A number of large investors have recently modified their holdings of COIN. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Coinbase Global during the first quarter worth about $394,000. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Coinbase Global by 39.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 880 shares of the cryptocurrency exchange’s stock worth $233,000 after purchasing an additional 250 shares during the last quarter. SP Asset Management LLC purchased a new stake in shares of Coinbase Global in the first quarter valued at approximately $265,000. Russell Investments Group Ltd. increased its holdings in shares of Coinbase Global by 28.9% in the first quarter. Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock valued at $6,138,000 after purchasing an additional 5,189 shares during the last quarter. Finally, Guardian Life Insurance Co of America purchased a new position in Coinbase Global during the first quarter worth approximately $199,000. 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.