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

Coinbase Global, Inc. (NASDAQ:COIN) has been assigned an average recommendation of "Moderate Buy" from the twenty-nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $367.1222.

COIN has been the topic of several research reports. Canaccord Genuity Group restated a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. BTIG Research initiated coverage on Coinbase Global in a research note on Wednesday, October 1st. They issued a "buy" rating and a $410.00 target price on the stock. Rothschild Redb upgraded Coinbase Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Citigroup boosted their target price on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 198,300 shares of Coinbase Global stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 721,764 shares of company stock valued at $273,595,798. 17.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently made changes to their positions in the stock. Cadent Capital Advisors LLC grew its position in shares of Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange's stock valued at $1,108,000 after purchasing an additional 30 shares in the last quarter. Ameriflex Group Inc. grew its position in Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock worth $68,000 after buying an additional 30 shares in the last quarter. Pettinga Financial Advisors LLC grew its position in Coinbase Global by 2.6% during the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange's stock worth $463,000 after buying an additional 34 shares in the last quarter. StoneX Group Inc. grew its position in Coinbase Global by 1.8% during the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange's stock worth $690,000 after buying an additional 34 shares in the last quarter. 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 worth $29,000 after buying an additional 36 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $357.01 on Friday. The business's fifty day simple moving average is $325.06 and its 200 day simple moving average is $287.15. The firm has a market capitalization of $91.73 billion, a P/E ratio of 34.53 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 issued its quarterly 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). The business had revenue of $1.50 billion for 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 business's revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. As a group, analysts anticipate that Coinbase Global will post 7.22 EPS for the current year.

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.

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