Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has received an average rating of "Moderate Buy" from the twenty analysts that are covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $262.75.

A number of analysts recently weighed in on COIN shares. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday. Sanford C. Bernstein raised shares of Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Oppenheimer decreased their price objective on shares of Coinbase Global from $279.00 to $269.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Benchmark initiated coverage on shares of Coinbase Global in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $252.00 price objective for the company. Finally, Needham & Company LLC decreased their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday.

Coinbase Global Trading Up 24.0%

Shares of NASDAQ:COIN opened at $256.90 on Wednesday. The stock has a market capitalization of $65.22 billion, a price-to-earnings ratio of 27.04 and a beta of 3.62. Coinbase Global has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a 50 day moving average price of $187.93 and a 200 day moving average price of $243.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The company's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. On average, research analysts anticipate that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $105,484.04. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,742 shares of company stock worth $25,758,259. 17.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp raised its holdings in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange's stock valued at $224,318,000 after purchasing an additional 7,675 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Coinbase Global by 7.1% during the 1st quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange's stock valued at $124,000 after purchasing an additional 48 shares in the last quarter. Versor Investments LP bought a new position in Coinbase Global in the 1st quarter worth $620,000. Cresset Asset Management LLC raised its holdings in Coinbase Global by 5.2% in the 1st quarter. Cresset Asset Management LLC now owns 64,461 shares of the cryptocurrency exchange's stock worth $11,102,000 after acquiring an additional 3,189 shares during the period. Finally, United Capital Management of KS Inc. raised its holdings in Coinbase Global by 4.5% in the 1st quarter. United Capital Management of KS Inc. now owns 12,386 shares of the cryptocurrency exchange's stock worth $2,133,000 after acquiring an additional 537 shares during the period. Institutional investors own 68.84% of the company's stock.

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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