Coinbase Global (NASDAQ:COIN) Shares Gap Up After Analyst Upgrade

Coinbase Global, Inc. (NASDAQ:COIN)’s share price gapped up prior to trading on Thursday after Oppenheimer raised their price target on the stock from $200.00 to $276.00. The stock had previously closed at $251.58, but opened at $260.15. Oppenheimer currently has an outperform rating on the stock. Coinbase Global shares last traded at $255.50, with a volume of 1,406,800 shares changing hands.

A number of other research firms also recently weighed in on COIN. Mizuho increased their target price on shares of Coinbase Global from $60.00 to $84.00 and gave the company an “underperform” rating in a research report on Thursday, February 22nd. HC Wainwright increased their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Finally, Wedbush increased their target price on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $148.60.

Check Out Our Latest Analysis on COIN

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $558,181.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now directly owns 61,665 shares in the company, valued at approximately $7,462,698.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. Insiders have sold a total of 726,615 shares of company stock worth $112,038,692 in the last ninety days. Corporate insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the stock. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $26,000. Ancora Advisors LLC increased its position 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 purchasing an additional 435 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. Tyler Stone Wealth Management purchased a new stake in shares of Coinbase Global during the 2nd quarter valued at $31,000. Finally, Quarry LP purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $32,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Up 2.8 %

The stock has a market capitalization of $62.67 billion, a PE ratio of 931.78 and a beta of 3.41. The firm has a 50-day moving average price of $198.58 and a 200-day moving average price of $142.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $826.10 million. During the same period last year, the firm posted ($2.46) EPS. The business’s revenue was up 51.6% compared to the same quarter last year. As a group, equities analysts forecast that Coinbase Global, Inc. will post 1.68 EPS for the current fiscal year.

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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