Coinbase Global (NASDAQ:COIN) Price Target Raised to $190.00

Coinbase Global (NASDAQ:COIN) had its price objective raised by Piper Sandler from $180.00 to $190.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Coinbase Global in a research note on Thursday. The Goldman Sachs Group initiated coverage on Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 price objective on the stock. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Compass Point restated a “sell” rating and issued a $180.00 target price on shares of Coinbase Global in a research report on Monday, April 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $268.65.

Coinbase Global Price Performance

NASDAQ:COIN opened at $199.47 on Friday. Coinbase Global has a one year low of $142.58 and a one year high of $349.75. The stock has a market cap of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average price of $187.38 and a 200 day moving average price of $243.30.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business earned $2.53 earnings per share. Equities research analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. This represents a 97.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This trade represents a 11.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,742 shares of company stock worth $32,639,759. Corporate insiders own 17.65% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth approximately $25,000. Copia Wealth Management purchased a new position in Coinbase Global in the fourth quarter worth approximately $26,000. Bessemer Group Inc. grew its holdings in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Finally, Atala Financial Inc purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. 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.