Barclays Issues Positive Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price target raised by equities researchers at Barclays from $175.00 to $204.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "equal weight" rating on the cryptocurrency exchange's stock. Barclays's price objective would indicate a potential upside of 10.31% from the company's current price.

COIN has been the topic of several other research reports. Canaccord Genuity Group restated a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, Citigroup upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and raised their price target for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $246.28.

Coinbase Global Trading Down 12.7 %

Shares of COIN stock traded down $26.81 during trading hours on Thursday, hitting $184.93. 10,585,692 shares of the company were exchanged, compared to its average volume of 10,390,283. The firm has a market cap of $45.95 billion, a PE ratio of 33.66 and a beta of 3.35. Coinbase Global has a 1 year low of $73.56 and a 1 year high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $181.94 and a 200 day moving average of $209.22.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The company's revenue was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.42) earnings per share. Analysts expect that Coinbase Global will post 3.92 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares of the company's stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the firm's stock in a transaction on 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 directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 400 shares of the firm's stock in a transaction 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 sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,687 shares of company stock valued at $14,908,594 over the last 90 days. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange's stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC raised 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 valued at $330,895,000 after purchasing an additional 22,071 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 purchasing an additional 486,512 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange's stock valued at $105,389,000 after purchasing an additional 435,886 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.

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