Jefferies Financial Group Issues Positive Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price objective boosted by research analysts at Jefferies Financial Group from $260.00 to $405.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “hold” rating on the cryptocurrency exchange’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 7.24% from the stock’s previous close.

COIN has been the topic of a number of other research reports. HC Wainwright reaffirmed a “sell” rating and set a $300.00 price target (down previously from $305.00) on shares of Coinbase Global in a research report on Thursday, July 10th. Rosenblatt Securities lifted their price target on Coinbase Global from $300.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Monness Crespi & Hardt cut Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday. Argus began coverage on Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 price objective on the stock. Finally, Compass Point upgraded Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $339.43.

Coinbase Global Stock Up 0.1%

Shares of NASDAQ:COIN traded up $0.19 during trading on Tuesday, reaching $377.67. 8,650,826 shares of the stock were exchanged, compared to its average volume of 11,391,775. The stock has a fifty day moving average of $324.49 and a two-hundred day moving average of $258.36. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $444.64. The firm has a market cap of $95.88 billion, a price-to-earnings ratio of 70.72, a price-to-earnings-growth ratio of 26.47 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. Research analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 3,000 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total value of $1,080,600.00. Following the transaction, the chief financial officer owned 97,366 shares of the company’s stock, valued at approximately $35,071,233.20. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. This represents a 99.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,208,340 shares of company stock valued at $439,997,456. Insiders own 17.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of COIN. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth about $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the 4th quarter valued at approximately $26,000. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Coinbase Global in the 1st quarter worth approximately $30,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $30,000. 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.