Coinbase Global (NASDAQ:COIN) had its price target decreased by Barclays from $359.00 to $352.00 in a report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the cryptocurrency exchange's stock.
Several other equities research analysts have also recently weighed in on COIN. Rosenblatt Securities restated a "buy" rating and set a $470.00 target price on shares of Coinbase Global in a report on Friday. The Goldman Sachs Group increased their price objective on Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday. JMP Securities increased their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Finally, Oppenheimer reissued an "outperform" rating and set a $417.00 price objective on shares of Coinbase Global in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $344.55.
Read Our Latest Analysis on COIN
Coinbase Global Price Performance
Shares of COIN stock traded down $63.07 during trading hours on Friday, hitting $314.69. 31,265,570 shares of the company's stock were exchanged, compared to its average volume of 12,904,831. The company has a market capitalization of $79.89 billion, a PE ratio of 30.43, a PEG ratio of 21.92 and a beta of 3.70. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global has a 12-month low of $142.58 and a 12-month high of $444.64. The business's 50 day simple moving average is $327.63 and its 200-day simple moving average is $259.53.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.95% and a net margin of 40.87%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the business earned $0.14 EPS. Coinbase Global's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.
Insider Buying and Selling
In other Coinbase Global news, CEO Brian Armstrong sold 198,300 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. The trade was a 99.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00. Following the transaction, the insider directly owned 82,328 shares in the company, valued at $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,208,340 shares of company stock worth $439,997,456. 17.65% of the stock is owned by insiders.
Institutional Trading of Coinbase Global
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global in the 2nd quarter worth $30,000. City State Bank purchased a new position in shares of Coinbase Global during the 2nd quarter valued at about $33,000. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $25,000. Copia Wealth Management bought a new stake in Coinbase Global during the 4th quarter worth approximately $26,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Coinbase Global during the fourth quarter valued at approximately $35,000. 68.84% of the stock is owned by hedge funds and other institutional investors.
About Coinbase Global
(
Get Free Report)
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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