Brokerages Set Coinbase Global, Inc. (NASDAQ:COIN) Target Price at $276.22

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have been given a consensus rating of "Hold" by the twenty analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $276.22.

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group restated a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Mizuho lifted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd.

Insider Activity

In other news, Director Gokul Rajaram sold 400 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the transaction, the director now owns 7,771 shares of the company's stock, valued at approximately $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,720 shares of company stock valued at $79,787,248. 23.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Coinbase Global

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange's stock valued at $570,341,000 after buying an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global during the third quarter worth about $409,919,000. Cowen AND Company LLC increased its stake in shares of Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange's stock worth $330,895,000 after buying an additional 22,071 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after acquiring an additional 691,288 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN traded down $2.38 on Friday, hitting $310.58. 5,832,592 shares of the company's stock were exchanged, compared to its average volume of 11,259,770. The firm has a 50-day moving average price of $256.88 and a 200-day moving average price of $224.91. The stock has a market cap of $77.75 billion, a price-to-earnings ratio of 53.00 and a beta of 3.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global has a fifty-two week low of $114.51 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The business's revenue was up 78.8% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global will post 4.44 earnings per share for the current year.

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.