Coinbase Global (NASDAQ:COIN) Price Target Raised to $245.00 at Piper Sandler

Coinbase Global (NASDAQ:COIN) had its price objective hoisted by Piper Sandler from $225.00 to $245.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

A number of other research analysts also recently issued reports on COIN. Canaccord Genuity Group reiterated a buy rating and set a $240.00 price objective on shares of Coinbase Global in a report on Thursday, March 28th. Wedbush raised their price target on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, February 16th. The Goldman Sachs Group raised shares of Coinbase Global from a sell rating to a neutral rating in a research report on Friday, March 8th. Mizuho lifted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an underperform rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on Coinbase Global from $95.00 to $150.00 and gave the stock a neutral rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $163.70.

Coinbase Global Price Performance

NASDAQ COIN opened at $223.41 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a 52-week low of $46.43 and a 52-week high of $283.48. The business has a 50 day simple moving average of $217.78 and a 200 day simple moving average of $152.75. The stock has a market cap of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping 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%. The firm’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.46) earnings per share. Analysts anticipate that Coinbase Global will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the completion of the sale, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares in the company, valued at approximately $7,462,698.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The disclosure for this sale can be found here. In the last ninety days, insiders sold 660,039 shares of company stock valued at $109,435,051. Insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors have recently modified their holdings of the stock. Ancora Advisors LLC lifted its position in Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 435 shares during the period. Barrett & Company Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Tyler Stone Wealth Management bought a new position in Coinbase Global in the second quarter valued at approximately $31,000. Finally, Quarry LP acquired a new position in Coinbase Global during the fourth quarter valued at approximately $32,000. 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.