Sanford C. Bernstein Boosts Coinbase Global (NASDAQ:COIN) Price Target to $200.00

Coinbase Global (NASDAQ:COIN) had its price objective increased by analysts at Sanford C. Bernstein from $80.00 to $200.00 in a report released on Thursday, Benzinga reports. The firm currently has a "market perform" rating on the cryptocurrency exchange's stock. Sanford C. Bernstein's target price would indicate a potential downside of 8.29% from the stock's previous close.

A number of other brokerages have also recently commented on COIN. Wedbush raised their target price on Coinbase Global from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Bank of America raised their price target on Coinbase Global from $92.00 to $110.00 and gave the company an "underperform" rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $160.00 to $230.00 and gave the company a "market perform" rating in a report on Wednesday, April 3rd. TheStreet raised Coinbase Global from a "d" rating to a "c-" rating in a report on Friday, February 16th. Finally, Citigroup raised their price target on Coinbase Global from $90.00 to $151.00 and gave the company a "neutral" rating in a report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $165.43.

Coinbase Global Stock Performance

Coinbase Global stock traded up $4.30 during trading on Thursday, reaching $218.08. The company had a trading volume of 9,390,618 shares, compared to its average volume of 13,983,069. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The firm's 50-day simple moving average is $221.60 and its 200 day simple moving average is $154.18. The firm has a market capitalization of $52.83 billion, a price-to-earnings ratio of 810.07 and a beta of 3.41. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million for the quarter, compared to analysts' expectations of $826.10 million. During the same period last year, the firm earned ($2.46) EPS. Coinbase Global's revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts forecast that Coinbase Global will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the transaction, the chief financial officer now owns 192,622 shares in the company, valued at $47,681,649.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Alesia J. Haas sold 4,200 shares of Coinbase Global stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $247.54, for a total value of $1,039,668.00. Following the completion of the transaction, the chief financial officer now owns 192,622 shares in the company, valued at $47,681,649.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now owns 4,662 shares of the company's stock, valued at approximately $558,181.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 590,978 shares of company stock worth $103,440,000. Corporate insiders own 33.16% of the company's stock.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently modified their holdings of COIN. Barrett & Company Inc. bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $26,000. Ancora Advisors LLC raised its stake in shares of Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 435 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Tyler Stone Wealth Management bought a new stake in shares of Coinbase Global during the second quarter valued at approximately $31,000. Finally, Mather Group LLC. bought a new position in Coinbase Global in the first quarter worth approximately $32,000. 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.