Coinbase Global, Inc. (NASDAQ:COIN) Receives Consensus Rating of "Hold" from Analysts

Coinbase Global, Inc. (NASDAQ:COIN) has been given a consensus recommendation of "Hold" by the twenty research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $251.00.

Several equities research analysts have issued reports on COIN shares. Barclays lifted their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. JMP Securities reissued a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. 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, Needham & Company LLC boosted their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a "buy" rating in a report on Monday.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the completion of the sale, the chief operating officer now owns 197,101 shares in the company, valued at approximately $37,240,262.94. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,091 shares of company stock worth $50,033,426. Company insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in the business. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $409,919,000. Renaissance Technologies LLC boosted its holdings in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock worth $236,258,000 after buying an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange's stock valued at $139,854,000 after buying an additional 486,512 shares during the period. American Century Companies Inc. increased its holdings in Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange's stock valued at $105,389,000 after buying an additional 435,886 shares in the last quarter. Finally, APEIRON CAPITAL Ltd acquired a new position in shares of Coinbase Global in the first quarter worth about $108,434,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded down $4.56 during mid-day trading on Wednesday, reaching $320.01. 22,816,793 shares of the company's stock were exchanged, compared to its average volume of 11,104,324. The firm has a 50-day moving average price of $208.71 and a two-hundred day moving average price of $214.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $80.11 billion, a price-to-earnings ratio of 54.61 and a beta of 3.34. Coinbase Global has a 52 week low of $101.34 and a 52 week high of $341.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company's revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Analysts predict that Coinbase Global will post 4.27 EPS for the current year.

About Coinbase Global

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.