Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $314.72.

A number of research firms have recently weighed in on COIN. Canaccord Genuity Group boosted their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Rosenblatt Securities started coverage on Coinbase Global in a research report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price on the stock. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Finally, Mizuho lowered their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th.

Coinbase Global Stock Up 6.9 %

Shares of COIN opened at $203.04 on Tuesday. The firm has a market cap of $51.55 billion, a P/E ratio of 21.37 and a beta of 3.66. Coinbase Global has a 1 year low of $146.12 and a 1 year high of $349.75. The stock has a 50 day simple moving average of $246.30 and a two-hundred day simple moving average of $241.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,034 shares of company stock worth $57,835,408. 23.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global in the 3rd quarter worth about $25,000. Mascagni Wealth Management Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global during the fourth quarter valued at approximately $27,000. Finally, Atala Financial Inc purchased a new stake in Coinbase Global during the 4th quarter valued at $27,000. Institutional investors own 68.84% of the company’s stock.

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.