Analysts Set Coinbase Global, Inc. (NASDAQ:COIN) PT at $215.50

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given an average rating of “Hold” by the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $215.50.

Several research analysts have issued reports on COIN shares. Sanford C. Bernstein increased their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at approximately $943,122.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the completion of the transaction, the chief operating officer now owns 207,471 shares in the company, valued at approximately $51,071,061.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The disclosure for this sale can be found here. Insiders sold a total of 351,521 shares of company stock worth $78,851,322 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its stake in shares of Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after buying an additional 114 shares during the last quarter. Paragon Capital Management Ltd boosted its stake in shares of Coinbase Global by 58.6% during the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after buying an additional 85,573 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Coinbase Global by 65.5% during the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after buying an additional 9,564 shares during the last quarter. KBC Group NV boosted its stake in shares of Coinbase Global by 26.2% during the 4th quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock worth $3,793,000 after buying an additional 4,524 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $302,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $221.71 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average price of $227.34 and a two-hundred day moving average price of $200.56. Coinbase Global has a 52-week low of $61.00 and a 52-week high of $283.48. The firm has a market capitalization of $54.45 billion, a P/E ratio of 44.25 and a beta of 3.44.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.26 billion. As a group, analysts anticipate that Coinbase Global will post 5.01 EPS for the current fiscal year.

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.