Coinbase Global (NASDAQ:COIN) Price Target Raised to $285.00

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Piper Sandler from $245.00 to $285.00 in a report released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the cryptocurrency exchange’s stock.

Other research analysts have also issued research reports about the stock. Mizuho lifted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. B. Riley initiated coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $288.44.

Coinbase Global Stock Performance

COIN opened at $260.01 on Tuesday. Coinbase Global has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a market capitalization of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. The business has a 50 day moving average price of $285.74 and a two-hundred day moving average price of $229.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insiders Place Their Bets

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Monday, October 14th. The shares were sold at an average price of $181.36, for a total value of $272,040.00. Following the completion of the sale, the chief operating officer now owns 176,601 shares of the company’s stock, valued at approximately $32,028,357.36. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,483 shares of company stock valued at $96,470,997 in the last three months. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $32,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the period. Abich Financial Wealth Management LLC grew its stake in Coinbase Global by 548.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after buying an additional 181 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Coinbase Global in the 3rd quarter worth $55,000. 68.84% of the stock is owned by institutional investors.

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.