Coinbase Global (NASDAQ:COIN) Stock Price Up 4.9% - Should You Buy?

Coinbase Global, Inc. (NASDAQ:COIN) rose 4.9% during mid-day trading on Tuesday . The stock traded as high as $260.25 and last traded at $258.90. Approximately 3,996,208 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 10,132,162 shares. The stock had previously closed at $246.72.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COIN. Piper Sandler upped their price objective on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. JMP Securities reaffirmed a "market outperform" rating and issued a $400.00 price target on shares of Coinbase Global in a research report on Thursday, May 8th. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a report on Monday, May 12th. Finally, Oppenheimer set a $293.00 target price on Coinbase Global in a report on Thursday, May 15th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.10.

Coinbase Global Price Performance

The business's 50-day moving average price is $211.17 and its 200 day moving average price is $244.28. The stock has a market capitalization of $62.00 billion, a PE ratio of 25.71 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results 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 business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Coinbase Global's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business'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 transaction, the insider now owns 83,313 shares of the company's stock, valued at $16,505,971.56. The trade was a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction 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 sale, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,717 shares of company stock worth $42,980,101. Insiders own 17.65% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Savant Capital LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $591,000. KCM Investment Advisors LLC bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $507,000. Principal Securities Inc. increased its stake in shares of Coinbase Global by 35.3% during the fourth quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange's stock valued at $256,000 after buying an additional 269 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Coinbase Global by 10.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock valued at $610,000 after acquiring an additional 232 shares in the last quarter. Finally, Stephens Inc. AR purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $261,000. Hedge funds and other 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.