Coinbase Global (NASDAQ:COIN) Now Covered by Analysts at B. Riley

B. Riley began coverage on shares of Coinbase Global (NASDAQ:COIN) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $185.00 price objective on the cryptocurrency exchange’s stock. B. Riley also issued estimates for Coinbase Global’s Q3 2024 earnings at $0.70 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $4.98 EPS and FY2025 earnings at $3.71 EPS.

COIN has been the subject of a number of other research reports. Bank of America dropped their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. HC Wainwright dropped their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Barclays raised their price objective on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $242.82.

Coinbase Global Stock Down 2.0 %

Shares of NASDAQ COIN opened at $205.04 on Wednesday. Coinbase Global has a 52 week low of $70.42 and a 52 week high of $283.48. The business has a 50-day simple moving average of $181.15 and a two-hundred day simple moving average of $210.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $50.35 billion, a P/E ratio of 40.93 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business’s revenue was up 104.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.42) EPS. Research analysts anticipate that Coinbase Global will post 3.92 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at approximately $45,428,243. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total value of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares in the company, valued at $45,428,243. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,187 shares of company stock valued at $13,158,294. Company insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently made changes to their positions in COIN. Los Angeles Capital Management LLC bought a new stake in shares of Coinbase Global during the first quarter valued at approximately $294,000. Park Avenue Securities LLC bought a new stake in shares of Coinbase Global during the first quarter valued at approximately $231,000. APEIRON CAPITAL Ltd bought a new stake in shares of Coinbase Global during the first quarter valued at approximately $108,434,000. Sunbelt Securities Inc. boosted its position in shares of Coinbase Global by 203.0% during the first quarter. Sunbelt Securities Inc. now owns 300 shares of the cryptocurrency exchange’s stock valued at $80,000 after purchasing an additional 201 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its position in shares of Coinbase Global by 48.9% during the first quarter. Vanguard Capital Wealth Advisors now owns 1,858 shares of the cryptocurrency exchange’s stock valued at $493,000 after purchasing an additional 610 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.