Coinbase Global (NASDAQ:COIN) Price Target Raised to $358.00 at Oppenheimer

Coinbase Global (NASDAQ:COIN) had its target price raised by Oppenheimer from $265.00 to $358.00 in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the cryptocurrency exchange’s stock.

Several other brokerages have also weighed in on COIN. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Compass Point decreased their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Monness Crespi & Hardt began coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. Barclays boosted their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $255.22.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $310.98 on Monday. The firm’s 50-day moving average price is $222.79 and its 200-day moving average price is $217.21. Coinbase Global has a 1-year low of $114.51 and a 1-year high of $341.75. The firm has a market capitalization of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted ($0.01) EPS. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global will post 4.27 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now directly owns 169,786 shares in the company, valued at approximately $33,150,716.50. This represents a 3.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares in the company, valued at $24,441,474.60. This represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,719 shares of company stock worth $65,309,711. 23.43% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the company. APEIRON CAPITAL Ltd bought a new position in shares of Coinbase Global in the 1st quarter worth $108,434,000. BOKF NA increased its holdings in shares of Coinbase Global by 9,906.9% in the 1st quarter. BOKF NA now owns 2,902 shares of the cryptocurrency exchange’s stock worth $732,000 after buying an additional 2,873 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Coinbase Global by 5.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 18,599 shares of the cryptocurrency exchange’s stock worth $4,931,000 after buying an additional 955 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Coinbase Global in the 1st quarter worth $663,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Coinbase Global by 66.4% in the 1st quarter. Janus Henderson Group PLC now owns 17,127 shares of the cryptocurrency exchange’s stock worth $4,539,000 after buying an additional 6,835 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other 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.