The Goldman Sachs Group Boosts Coinbase Global (NASDAQ:COIN) Price Target to $397.00

Coinbase Global (NASDAQ:COIN) had its price target hoisted by research analysts at The Goldman Sachs Group from $183.00 to $397.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the cryptocurrency exchange's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 31.28% from the stock's current price.

Other equities analysts also recently issued reports about the company. Monness Crespi & Hardt initiated coverage on Coinbase Global in a research report on Monday, October 28th. They set a "buy" rating and a $245.00 target price on the stock. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Compass Point dropped their price target on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Oppenheimer lifted their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the company an "outperform" rating in a report on Monday, November 25th. Finally, Needham & Company LLC upped their price objective on Coinbase Global from $290.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and an average price target of $265.33.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded up $6.20 during trading on Monday, reaching $302.40. The company had a trading volume of 11,194,183 shares, compared to its average volume of 11,197,844. The stock has a market capitalization of $75.71 billion, a PE ratio of 53.09 and a beta of 3.34. The stock has a 50-day moving average price of $228.17 and a two-hundred day moving average price of $218.63. Coinbase Global has a twelve month low of $114.51 and a twelve month high of $341.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm's revenue was up 78.8% on a year-over-year basis. As a group, sell-side analysts predict that Coinbase Global will post 4.44 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 5,250 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the transaction, the chief financial officer now owns 169,786 shares of the company's stock, valued at approximately $33,150,716.50. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 237,719 shares of company stock valued at $65,309,711. Company insiders own 23.43% of the company's stock.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC lifted its position in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of Coinbase Global in the 2nd quarter valued at $29,000. Versant Capital Management Inc increased its stake in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock worth $30,000 after purchasing an additional 57 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the 3rd quarter worth about $25,000. Finally, Spirit of America Management Corp NY purchased a new stake in Coinbase Global during the second quarter valued at about $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.