Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Recommendation of “Hold” from Analysts

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have received a consensus rating of “Hold” from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $276.22.

A number of brokerages recently weighed in on COIN. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price target for the company. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC upped their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. This represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,386,983.38. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,720 shares of company stock valued at $79,787,248 over the last 90 days. 23.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $409,919,000. Cowen AND Company LLC raised its holdings in shares of Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after purchasing an additional 22,071 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $310.58 on Friday. Coinbase Global has a 52 week low of $114.51 and a 52 week high of $349.75. The stock has a market capitalization of $77.75 billion, a PE ratio of 53.00 and a beta of 3.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $256.88 and its 200-day moving average is $225.00.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned ($0.01) EPS. The firm’s revenue was up 78.8% compared to the same quarter last year. Equities research analysts expect that Coinbase Global will post 4.44 EPS for the current fiscal year.

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.