Coinbase Global (NASDAQ:COIN) Price Target Increased to $240.00 by Analysts at Keefe, Bruyette & Woods

Coinbase Global (NASDAQ:COIN) had its price objective raised by analysts at Keefe, Bruyette & Woods from $230.00 to $240.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the cryptocurrency exchange’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 8.81% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Bank of America increased their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday. Barclays raised their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Oppenheimer increased their target price on shares of Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Piper Sandler upped their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $180.71.

Coinbase Global Price Performance

Shares of COIN traded down $8.28 during mid-day trading on Friday, reaching $220.57. The company had a trading volume of 8,643,291 shares, compared to its average volume of 13,265,991. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $53.44 billion, a price-to-earnings ratio of 823.63 and a beta of 3.46. The company’s 50 day simple moving average is $235.22 and its 200 day simple moving average is $164.76.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The business 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 quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm earned ($2.46) earnings per share. Analysts expect that Coinbase Global will post 2.71 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the transaction, the chief operating officer now owns 213,851 shares in the company, valued at $45,977,965. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at $45,977,965. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 420,597 shares of company stock valued at $86,053,862. 33.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COIN. Concord Wealth Partners raised its holdings in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Mather Group LLC. acquired a new position in shares of Coinbase Global during the first quarter valued at $32,000. Barrett & Company Inc. bought a new stake in Coinbase Global during the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global in the 4th quarter worth $27,000. Finally, Riverview Trust Co acquired a new stake in Coinbase Global during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.