Coinbase Global (NASDAQ:COIN) Rating Increased to Outperform at Mizuho

Coinbase Global (NASDAQ:COIN) was upgraded by research analysts at Mizuho from a "neutral" rating to an "outperform" rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $290.00 target price on the cryptocurrency exchange's stock, up from their previous target price of $250.00. Mizuho's price objective suggests a potential upside of 1.19% from the company's current price.

Several other brokerages have also commented on COIN. HC Wainwright restated a "buy" rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $275.00 to $255.00 and set a "market perform" rating on the stock in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $289.06.

Coinbase Global Stock Up 1.7 %

Shares of COIN traded up $4.78 during mid-day trading on Wednesday, reaching $286.60. The company's stock had a trading volume of 3,187,910 shares, compared to its average volume of 8,154,007. Coinbase Global has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $71.75 billion, a price-to-earnings ratio of 49.01 and a beta of 3.59. The business has a fifty day moving average of $288.73 and a 200 day moving average of $234.81.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, analysts forecast that Coinbase Global will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the transaction, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares of the company's stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 377,705 shares of company stock worth $112,792,687 over the last three months. Company insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Sovran Advisors LLC bought a new position in Coinbase Global during the 4th quarter worth approximately $325,000. Focus Financial Network Inc. boosted its position in shares of Coinbase Global by 39.6% during the fourth quarter. Focus Financial Network Inc. now owns 1,939 shares of the cryptocurrency exchange's stock worth $481,000 after purchasing an additional 550 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at $1,426,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. Finally, Savant Capital LLC acquired a new stake in Coinbase Global during the 4th quarter worth $591,000. 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.