Coinbase Global (NASDAQ:COIN) had its price objective increased by investment analysts at Mizuho from $60.00 to $84.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the cryptocurrency exchange’s stock. Mizuho’s price objective points to a potential downside of 49.39% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $124.00 to $170.00 and gave the stock a “sell” rating in a report on Tuesday. Citigroup boosted their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Wedbush raised their price objective on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, JMP Securities boosted their price target on shares of Coinbase Global from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $128.19.
Check Out Our Latest Analysis on Coinbase Global
Coinbase Global Trading Down 2.9 %
Shares of COIN opened at $165.98 on Thursday. The stock has a market cap of $39.71 billion, a PE ratio of 614.74 and a beta of 3.14. The business’s 50-day moving average price is $148.77 and its 200-day moving average price is $110.70. Coinbase Global has a twelve month low of $46.43 and a twelve month high of $193.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm earned ($2.46) earnings per share. On average, equities analysts forecast that Coinbase Global will post 1 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $147.03, for a total transaction of $3,392,717.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $145.09, for a total value of $1,450,900.00. Following the sale, the insider now owns 61,665 shares of the company’s stock, valued at approximately $8,946,974.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,209,123 shares of company stock valued at $172,223,354. Insiders own 33.16% of the company’s stock.
Institutional Investors Weigh In On Coinbase Global
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Coinbase Global by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after acquiring an additional 408,046 shares in the last quarter. Morgan Stanley raised its holdings in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Coinbase Global by 84.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock valued at $218,728,000 after acquiring an additional 1,402,169 shares in the last quarter. Geode Capital Management LLC grew its holdings in Coinbase Global by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,510,007 shares of the cryptocurrency exchange’s stock valued at $179,317,000 after buying an additional 168,018 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Coinbase Global in the 4th quarter valued at $50,254,000. 45.96% of the stock is currently owned by institutional investors.
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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