Coinbase Global (NASDAQ:COIN) Price Target Raised to $250.00

Coinbase Global (NASDAQ:COIN) had its target price boosted by Wedbush from $200.00 to $250.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the cryptocurrency exchange’s stock.

A number of other brokerages have also weighed in on COIN. HC Wainwright raised their price objective on Coinbase Global from $250.00 to $300.00 and gave the company a buy rating in a research note on Monday, April 29th. JMP Securities restated a market outperform rating on shares of Coinbase Global in a research note on Friday, March 22nd. Mizuho upped their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an underperform rating in a report on Friday, April 12th. Citigroup raised their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a neutral rating in a report on Friday, January 19th. Finally, Barclays upped their target price on shares of Coinbase Global from $146.00 to $179.00 and gave the company an underweight rating in a research note on Monday, April 8th. Three 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.com, the stock has an average rating of Hold and an average price target of $185.48.

Coinbase Global Trading Down 2.4 %

COIN traded down $5.60 during trading on Friday, hitting $223.25. 13,739,132 shares of the company’s stock were exchanged, compared to its average volume of 9,158,455. The stock has a 50 day moving average price of $236.37 and a 200 day moving average price of $165.79. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, analysts expect that Coinbase Global will post 2.71 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the transaction, the chief operating officer now owns 213,851 shares in the company, valued at $45,977,965. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were 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 directly owns 213,851 shares of the company’s stock, valued at $45,977,965. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. Insiders sold a total of 420,597 shares of company stock worth $86,053,862 over the last 90 days. 33.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barrett & Company Inc. acquired a new stake in Coinbase Global in the fourth quarter worth $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global in the fourth quarter valued at about $27,000. Concord Wealth Partners lifted its holdings in shares of 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 purchasing an additional 87 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in Coinbase Global during the 1st quarter worth approximately $32,000. 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.