Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Rating of “Hold” from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has earned a consensus rating of “Hold” from the twenty research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $284.28.

Several equities analysts have issued reports on COIN shares. HC Wainwright restated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Piper Sandler restated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Oppenheimer raised their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $179.69, for a total value of $269,535.00. Following the sale, the chief operating officer now owns 186,101 shares in the company, valued at $33,440,488.69. This represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,720 shares of company stock worth $79,787,248 in the last three months. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global during the third quarter worth $25,000. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Coinbase Global during the 3rd quarter worth $32,000. Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global in the 2nd quarter worth $33,000. Finally, Continuum Advisory LLC raised its holdings in shares of Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 2.1 %

NASDAQ COIN opened at $273.92 on Friday. The company has a market cap of $68.58 billion, a price-to-earnings ratio of 46.74 and a beta of 3.57. Coinbase Global has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average is $267.14 and its 200 day moving average is $226.79.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, sell-side analysts expect that Coinbase Global will post 4.44 EPS for the current fiscal year.

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.