Coinbase Global, Inc. (NASDAQ:COIN) has received a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $163.50.
COIN has been the topic of a number of research reports. Needham & Company LLC lowered their price objective on Coinbase Global from $173.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Cowen initiated coverage on Coinbase Global in a research note on Thursday, May 26th. They issued an “outperform” rating on the stock. JMP Securities lowered their price objective on Coinbase Global from $205.00 to $195.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 10th. Keefe, Bruyette & Woods lowered Coinbase Global from a “market perform” rating to an “underperform” rating and set a $45.00 target price for the company. in a report on Wednesday, August 10th. Finally, The Goldman Sachs Group lifted their target price on Coinbase Global from $45.00 to $51.00 and gave the company a “sell” rating in a report on Thursday, August 11th.
Coinbase Global Trading Up 10.7 %
NASDAQ COIN opened at $80.87 on Monday. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of -40.03 and a beta of 3.31. Coinbase Global has a one year low of $40.83 and a one year high of $368.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 1.06. The business’s fifty day moving average is $69.93 and its 200-day moving average is $101.44.
Coinbase Global (NASDAQ:COIN – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.04) by ($1.91). Coinbase Global had a negative net margin of 4.79% and a negative return on equity of 4.61%. The firm had revenue of $808.33 million during the quarter, compared to the consensus estimate of $877.32 million. Equities research analysts predict that Coinbase Global will post -11.02 EPS for the current year.
Insiders Place Their Bets
In other Coinbase Global news, CAO Jennifer N. Jones sold 4,512 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $97.24, for a total value of $438,746.88. Following the completion of the sale, the chief accounting officer now owns 27,417 shares in the company, valued at $2,666,029.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, Director Tobias Lutke bought 3,930 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average price of $97.24 per share, for a total transaction of $382,153.20. Following the completion of the acquisition, the director now directly owns 29,430 shares in the company, valued at $2,861,773.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 4,512 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $97.24, for a total value of $438,746.88. Following the transaction, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at approximately $2,666,029.08. The disclosure for this sale can be found here. Insiders bought a total of 24,601 shares of company stock valued at $1,863,254 over the last quarter. 36.10% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Coinbase Global
A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Coinbase Global in the fourth quarter worth $25,000. Tradewinds Capital Management LLC grew its stake in Coinbase Global by 1,210.0% in the second quarter. Tradewinds Capital Management LLC now owns 524 shares of the cryptocurrency exchange’s stock worth $25,000 after purchasing an additional 484 shares during the period. Wagner Wealth Management LLC purchased a new stake in Coinbase Global in the fourth quarter worth $27,000. Cornerstone Advisory LLC purchased a new stake in Coinbase Global in the fourth quarter worth $27,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in Coinbase Global in the first quarter worth $28,000. Institutional investors own 49.31% of the company’s stock.
About Coinbase Global
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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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