Oppenheimer Cuts Coinbase Global (NASDAQ:COIN) Price Target to $334.00

Coinbase Global (NASDAQ:COIN) had its price objective reduced by Oppenheimer from $358.00 to $334.00 in a research note released on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the cryptocurrency exchange's stock.

A number of other analysts have also issued reports on the stock. JMP Securities reiterated a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Mizuho increased their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Monness Crespi & Hardt boosted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $282.83.

Coinbase Global Trading Up 4.9 %

Shares of COIN stock traded up $13.85 during trading hours on Friday, hitting $295.48. The company had a trading volume of 11,250,894 shares, compared to its average volume of 7,827,058. Coinbase Global has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. 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 company's fifty day moving average is $290.71 and its 200 day moving average is $230.81. The stock has a market capitalization of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The company's quarterly revenue was up 78.8% on a year-over-year basis. Research analysts expect that Coinbase Global will post 4.69 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares in the company, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock valued at $102,613,277 over the last ninety days. Insiders own 23.43% of the company's stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Red Door Wealth Management LLC acquired a new position in Coinbase Global in the 4th quarter valued at about $304,000. Avior Wealth Management LLC increased its holdings in shares of Coinbase Global by 7.8% in the fourth quarter. Avior Wealth Management LLC now owns 965 shares of the cryptocurrency exchange's stock valued at $240,000 after purchasing an additional 70 shares during the period. Dakota Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter worth approximately $509,000. Simon Quick Advisors LLC lifted its holdings in shares of Coinbase Global by 8.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,122 shares of the cryptocurrency exchange's stock worth $527,000 after purchasing an additional 166 shares during the period. Finally, Oxinas Partners Wealth Management LLC purchased a new position in Coinbase Global in the 4th quarter valued at $265,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.