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

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned a consensus rating of "Moderate Buy" from the twenty-nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $367.1222.

Several equities research analysts have weighed in on COIN shares. Barclays decreased their price target on shares of Coinbase Global from $365.00 to $361.00 and set an "equal weight" rating for the company in a research note on Wednesday. Piper Sandler reaffirmed a "neutral" rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Oppenheimer reiterated an "outperform" rating and issued a $417.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their target price on shares of Coinbase Global from $351.00 to $363.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Finally, Bank of America dropped their price target on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $357.01 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $91.73 billion, a price-to-earnings ratio of 34.53 and a beta of 3.68. The firm has a 50 day simple moving average of $325.06 and a 200 day simple moving average of $287.15.

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

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider owned 478 shares of the company's stock, valued at $148,834.86. This represents a 92.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 4,675 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the completion of the transaction, the chief financial officer directly owned 89,220 shares in the company, valued at $28,750,252.80. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 721,764 shares of company stock worth $273,595,798 in the last ninety days. Insiders own 17.65% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cadent Capital Advisors LLC lifted its position in shares of Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange's stock worth $1,108,000 after purchasing an additional 30 shares during the period. Ameriflex Group Inc. increased its stake in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock valued at $68,000 after purchasing an additional 30 shares in the last quarter. Pettinga Financial Advisors LLC grew its stake in shares of Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange's stock worth $463,000 after acquiring an additional 34 shares during the period. StoneX Group Inc. grew its stake in shares of Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange's stock worth $690,000 after acquiring an additional 34 shares during the period. Finally, Evelyn Partners Investment Management Europe Ltd grew its position in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange's stock valued at $29,000 after buying an additional 36 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

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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