Coinbase Global (NASDAQ:COIN) Now Covered by China Renaissance

China Renaissance started coverage on shares of Coinbase Global (NASDAQ:COIN) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $353.30 price target on the cryptocurrency exchange's stock.

Other analysts also recently issued research reports about the company. Sanford C. Bernstein raised Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. William Blair assumed coverage on Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating for the company. Cantor Fitzgerald started coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Piper Sandler upped their price target on Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a research note on Monday, May 12th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $271.88.

Coinbase Global Stock Up 16.3%

Shares of NASDAQ COIN traded up $41.44 during mid-day trading on Tuesday, reaching $295.29. 37,251,901 shares of the company's stock were exchanged, compared to its average volume of 10,255,252. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 18.50 and a beta of 3.61. The business has a fifty day simple moving average of $227.26 and a 200 day simple moving average of $241.11.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the company posted $2.53 earnings per share. Coinbase Global's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now owns 114,866 shares of the company's stock, valued at $22,973,200. The trade was a 6.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. This represents a 10.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,538 shares of company stock valued at $51,299,116. 17.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in COIN. Farther Finance Advisors LLC raised its position in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after purchasing an additional 40 shares during the period. IPG Investment Advisors LLC boosted its holdings in shares of Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after buying an additional 45 shares during the period. Vivaldi Capital Management LP grew its stake in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after buying an additional 47 shares during the last quarter. Brooklyn Investment Group raised its holdings in Coinbase Global by 7.1% in the 1st quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange's stock valued at $124,000 after acquiring an additional 48 shares during the period. Finally, Rede Wealth LLC raised its holdings in Coinbase Global by 0.6% in the 1st quarter. Rede Wealth LLC now owns 8,027 shares of the cryptocurrency exchange's stock valued at $1,382,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds 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.