Coinbase Global, Inc. Forecasted to Post Q1 2022 Earnings of $2.62 Per Share (NASDAQ:COIN)

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Coinbase Global, Inc. (NASDAQ:COIN) – Investment analysts at Piper Sandler decreased their Q1 2022 earnings per share estimates for shares of Coinbase Global in a research report issued on Thursday, October 7th. Piper Sandler analyst R. Repetto now forecasts that the cryptocurrency exchange will post earnings of $2.62 per share for the quarter, down from their prior estimate of $2.63. Piper Sandler also issued estimates for Coinbase Global’s Q4 2022 earnings at $1.14 EPS. Coinbase Global (NASDAQ:COIN) last issued its earnings results on Monday, August 9th. The cryptocurrency exchange reported $6.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $4.16. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.83 billion. Coinbase Global’s quarterly revenue was up 1040.2% on a year-over-year basis.

Several other equities research analysts have also issued reports on COIN. Rosenblatt Securities lifted their price objective on shares of Coinbase Global from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, August 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $265.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, August 11th. DA Davidson initiated coverage on shares of Coinbase Global in a research note on Monday, August 9th. They issued a “buy” rating and a $400.00 price objective for the company. Wedbush lifted their price objective on shares of Coinbase Global from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, August 11th. Finally, Bank of America initiated coverage on shares of Coinbase Global in a research note on Friday, August 13th. They issued a “neutral” rating and a $273.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $354.63.

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COIN stock opened at $248.14 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 1.47. Coinbase Global has a 1 year low of $208.00 and a 1 year high of $429.54. The firm has a fifty day simple moving average of $250.45.

A number of large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC acquired a new position in Coinbase Global in the second quarter valued at about $1,422,891,000. Vanguard Group Inc. acquired a new position in Coinbase Global in the second quarter valued at about $1,301,556,000. Nikko Asset Management Americas Inc. acquired a new position in Coinbase Global in the second quarter valued at about $859,736,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Coinbase Global in the second quarter valued at about $830,242,000. Finally, FMR LLC acquired a new position in Coinbase Global in the second quarter valued at about $341,269,000. Hedge funds and other institutional investors own 20.26% of the company’s stock.

In related news, Director Frederick Ernest Ehrsam III sold 10,312 shares of the company’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $257.93, for a total value of $2,659,774.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 46,289 shares of the company’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $259.05, for a total transaction of $11,991,165.45. Following the completion of the sale, the insider now directly owns 33,746 shares in the company, valued at approximately $8,741,901.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 928,604 shares of company stock worth $240,437,560.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.

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Earnings History and Estimates for Coinbase Global (NASDAQ:COIN)

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