Coinbase Global, Inc. (NASDAQ:COIN) Given Average Rating of "Hold" by Analysts

Key Points

• Coinbase Global, Inc. (NASDAQ:COIN) has received an average consensus recommendation of "Hold" from analysts, with two sell ratings, ten holds, and thirteen buys.
• The average price target for Coinbase shares among brokerages is approximately $352.72, reflecting some optimism despite recent stock performance.
• Insider activity showed significant sales, including Lawrence J. Brock selling 5,903 shares, indicating a 92.51% decrease in their position.

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given a consensus recommendation of "Hold" by the twenty-five ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $352.7208.

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a report on Monday, August 4th. William Blair started coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They issued an "outperform" rating for the company. Sanford C. Bernstein raised their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Needham & Company LLC raised their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Jefferies Financial Group raised their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider owned 478 shares in the company, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,756 shares of Coinbase Global stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total transaction of $527,713.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,173,050 shares of company stock worth $438,728,761. Corporate insiders own 23.43% of the company's stock.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. purchased a new position in Coinbase Global in the 4th quarter worth $25,000. Copia Wealth Management purchased a new position in shares of Coinbase Global in the fourth quarter valued at about $26,000. Bessemer Group Inc. increased its position in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares during the period. Evelyn Partners Investment Management Europe Ltd increased its position in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange's stock valued at $29,000 after acquiring an additional 36 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Coinbase Global in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Up 1.2%

COIN opened at $327.02 on Tuesday. The company has a 50 day moving average of $340.07 and a 200 day moving average of $268.46. The company has a market cap of $84.02 billion, a PE ratio of 31.63 and a beta of 3.68. Coinbase Global has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. On average, sell-side analysts expect that Coinbase Global will post 7.22 EPS for the current year.

About Coinbase Global

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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