Coinbase Global (NASDAQ:COIN) Price Target Raised to $417.00 at Oppenheimer

Coinbase Global (NASDAQ:COIN) had its price objective boosted by Oppenheimer from $395.00 to $417.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the cryptocurrency exchange's stock. Oppenheimer's price objective indicates a potential upside of 5.87% from the company's current price.

A number of other equities analysts also recently commented on COIN. Citigroup restated a "buy" rating on shares of Coinbase Global in a research note on Wednesday, June 25th. Sanford C. Bernstein raised their price target on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. The Goldman Sachs Group upped their price objective on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. HC Wainwright reaffirmed a "sell" rating and issued a $300.00 target price (down from $305.00) on shares of Coinbase Global in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $305.71.

Coinbase Global Stock Performance

COIN traded up $6.82 during trading hours on Monday, hitting $393.88. 8,168,861 shares of the stock were exchanged, compared to its average volume of 10,930,123. The stock has a market cap of $100.00 billion, a price-to-earnings ratio of 73.69, a price-to-earnings-growth ratio of 29.42 and a beta of 3.70. The stock has a 50-day simple moving average of $282.06 and a 200-day simple moving average of $246.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. Coinbase Global has a 12 month low of $142.58 and a 12 month high of $398.29.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. The company's quarterly revenue was up 24.2% compared to the same quarter last year. Analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm'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 transaction, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 12,931 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total transaction of $3,456,326.99. Following the completion of the sale, the insider owned 84,280 shares in the company, valued at approximately $22,527,201.20. This trade represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 670,915 shares of company stock valued at $219,399,582. 17.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter worth $536,484,000. Groupama Asset Managment boosted its position in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after purchasing an additional 875,359 shares during the period. Nuveen LLC acquired a new stake in Coinbase Global during the 1st quarter worth about $83,454,000. Finally, Amundi lifted its stake in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock valued at $268,850,000 after buying an additional 481,786 shares in the last quarter. 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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