Coinbase Global, Inc. (NASDAQ:COIN) Given Average Rating of "Moderate Buy" by Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-three ratings firms that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $291.06.

COIN has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Mizuho reduced their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Benchmark increased their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Citigroup reiterated a "buy" rating on shares of Coinbase Global in a research note on Wednesday, June 25th. Finally, Barclays increased their price objective on Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a report on Monday, May 12th.

Coinbase Global Stock Performance

COIN stock opened at $354.45 on Thursday. The stock has a market cap of $89.99 billion, a P/E ratio of 66.38, a P/E/G ratio of 24.53 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a 50 day simple moving average of $259.28 and a 200 day simple moving average of $242.64. Coinbase Global has a 52 week low of $142.58 and a 52 week high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. Coinbase Global's revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.53 earnings per share. Research analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director directly owned 10,417 shares in the company, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,915 shares of company stock worth $210,137,782 over the last quarter. Company insiders own 17.65% of the company's stock.

Institutional Trading of Coinbase Global

Large investors have recently added to or reduced their stakes in the company. KCM Investment Advisors LLC bought a new stake in shares of Coinbase Global during the fourth quarter worth $507,000. Kingswood Wealth Advisors LLC lifted its position in shares of Coinbase Global by 124.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock worth $453,000 after purchasing an additional 1,454 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Coinbase Global by 10.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock worth $610,000 after purchasing an additional 232 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Coinbase Global by 87.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after buying an additional 1,561 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in Coinbase Global in the 1st quarter valued at $243,000. 68.84% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.