Coinbase Global, Inc. (NASDAQ:COIN) Given Consensus Rating of “Moderate Buy” by Analysts

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $311.56.

A number of equities analysts have recently commented on COIN shares. The Goldman Sachs Group cut their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. JMP Securities raised their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Mizuho cut their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This trade represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,455 shares of company stock valued at $60,955,968 over the last 90 days. Insiders own 23.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of COIN. Assenagon Asset Management S.A. increased its holdings in shares of Coinbase Global by 36.2% in the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock worth $638,000 after buying an additional 952 shares during the period. abrdn plc increased its holdings in shares of Coinbase Global by 625.1% in the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock worth $6,198,000 after buying an additional 29,990 shares during the period. Integrated Advisors Network LLC increased its holdings in shares of Coinbase Global by 104.4% in the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock worth $351,000 after buying an additional 1,005 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of Coinbase Global by 16,928.6% in the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock worth $637,000 after buying an additional 3,555 shares during the period. Finally, Golden State Equity Partners increased its holdings in Coinbase Global by 2.5% during the 3rd quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange’s stock valued at $514,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $214.17 on Friday. Coinbase Global has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $263.18 and its 200 day simple moving average is $241.06. The company has a market cap of $54.37 billion, a price-to-earnings ratio of 22.54 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Sell-side analysts forecast that Coinbase Global will post 7.22 EPS for the current 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.