Coinbase Global (NASDAQ:COIN) Stock Rating Reaffirmed by HC Wainwright

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $315.00 target price on the cryptocurrency exchange’s stock. HC Wainwright’s target price would suggest a potential upside of 33.50% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group cut their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Singular Research restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Finally, Oppenheimer boosted their price objective on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $215.50.

View Our Latest Analysis on COIN

Coinbase Global Trading Down 3.7 %

NASDAQ:COIN opened at $235.95 on Tuesday. The business has a fifty day moving average of $228.76 and a 200-day moving average of $197.52. Coinbase Global has a 1 year low of $53.63 and a 1 year high of $283.48. The stock has a market cap of $57.94 billion, a price-to-earnings ratio of 47.10 and a beta of 3.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Equities analysts predict that Coinbase Global will post 5.01 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 4,200 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now directly owns 192,622 shares in the company, valued at $47,681,649.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coinbase Global news, CFO Alesia J. Haas sold 4,200 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the sale, the chief financial officer now directly owns 192,622 shares in the company, valued at $47,681,649.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $134,813.80. The disclosure for this sale can be found here. Insiders sold 378,158 shares of company stock worth $86,182,160 over the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COIN. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after buying an additional 2,624,989 shares during the period. Norges Bank acquired a new position in Coinbase Global during the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. acquired a new position in Coinbase Global during the fourth quarter valued at approximately $147,646,000. Morgan Stanley boosted its position in Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares during the last quarter. Finally, Hamilton Lane Advisors LLC acquired a new position in Coinbase Global during the fourth quarter valued at approximately $88,015,000. 68.84% of the stock is owned by institutional investors and hedge funds.

About Coinbase Global

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Coinbase Global (NASDAQ:COIN)

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.