Coinbase Global (NASDAQ:COIN) PT Raised to $230.00 at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price target upped by equities researchers at Keefe, Bruyette & Woods from $160.00 to $230.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 6.44% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Oppenheimer upped their price target on Coinbase Global from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Mizuho upped their price objective on shares of Coinbase Global from $60.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, February 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $144.80.

Read Our Latest Stock Report on COIN

Coinbase Global Price Performance

NASDAQ COIN opened at $245.84 on Wednesday. The company has a market cap of $59.56 billion, a PE ratio of 910.52 and a beta of 3.41. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $195.98 and its two-hundred day simple moving average is $141.81.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the business posted ($2.46) earnings per share. The company’s revenue was up 51.6% on a year-over-year basis. Research analysts predict that Coinbase Global will post 1.68 earnings per share for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $134.24, for a total transaction of $13,133,504.64. Following the completion of the sale, the director now owns 299,580 shares of the company’s stock, valued at $40,215,619.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $134.24, for a total value of $13,133,504.64. Following the completion of the sale, the director now owns 299,580 shares of the company’s stock, valued at $40,215,619.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the sale, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 726,615 shares of company stock valued at $112,038,692. 33.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the company. Barrett & Company Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at $26,000. Ancora Advisors LLC boosted its holdings in shares of Coinbase Global by 144.0% during the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. Tyler Stone Wealth Management bought a new stake in shares of Coinbase Global during the 2nd quarter valued at $31,000. Finally, Quarry LP bought a new stake in shares of Coinbase Global during the 4th quarter valued at $32,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

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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.

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