Coinbase Global (NASDAQ:COIN) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald started coverage on shares of Coinbase Global (NASDAQ:COIN) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $245.00 price target on the cryptocurrency exchange's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 39.60% from the stock's current price.

A number of other research firms have also recently commented on COIN. Mizuho lowered their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. The Goldman Sachs Group began coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price target on the stock. Piper Sandler upped their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. JMP Securities raised their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Finally, Barclays lowered their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $298.74.

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Coinbase Global Price Performance

Coinbase Global stock traded up $5.88 during mid-day trading on Tuesday, reaching $175.50. 7,745,585 shares of the company were exchanged, compared to its average volume of 9,775,182. The company has a fifty day simple moving average of $210.02 and a 200-day simple moving average of $241.96. The firm has a market cap of $44.56 billion, a PE ratio of 18.47 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global has a 12 month low of $142.58 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts expect that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now owns 10,417 shares of the company's stock, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,767 shares of company stock valued at $48,326,134 over the last 90 days. Insiders own 23.43% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the 4th quarter worth about $25,000. Copia Wealth Management acquired a new position in Coinbase Global during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the 4th quarter worth about $27,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

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.