Coinbase Global (NASDAQ:COIN) Receives Buy Rating from Rosenblatt Securities

Coinbase Global (NASDAQ:COIN)'s stock had its "buy" rating reissued by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $300.00 price objective on the cryptocurrency exchange's stock. Rosenblatt Securities' price target would indicate a potential upside of 23.60% from the company's previous close.

Several other research analysts have also recently weighed in on COIN. Barclays lifted their price target on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Bank of America cut their price target on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Citigroup reissued a "neutral" rating on shares of Coinbase Global in a research note on Thursday, May 8th. Finally, Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a report on Monday, May 12th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $268.00.

Coinbase Global Trading Up 0.7%

Coinbase Global stock opened at $242.71 on Monday. The stock has a market capitalization of $61.62 billion, a PE ratio of 25.55 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business's fifty day moving average is $221.16 and its 200 day moving average is $240.88. Coinbase Global has a one year low of $142.58 and a one year high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion during 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 business's revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 EPS. On average, sell-side analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $255.34, for a total value of $6,383,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $134,308.84. This represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 12,931 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 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. Over the last 90 days, insiders have sold 220,717 shares of company stock valued at $49,363,601. 17.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of COIN. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after buying an additional 875,359 shares during the period. Geode Capital Management LLC boosted its position in Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock valued at $882,822,000 after acquiring an additional 127,075 shares in the last quarter. ARK Investment Management LLC raised its holdings in Coinbase Global by 1.1% in the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock worth $528,592,000 after purchasing an additional 34,462 shares in the last quarter. Groupama Asset Managment increased its position in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock worth $516,690,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, Norges Bank purchased a new position in Coinbase Global during the 4th quarter worth $536,484,000. 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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