Coinbase Global’s (COIN) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Coinbase Global (NASDAQ:COIN) in a report released on Friday morning, Benzinga reports. JMP Securities currently has a $320.00 price objective on the cryptocurrency exchange’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup lifted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a neutral rating in a research note on Friday, January 19th. Wedbush lifted their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an outperform rating in a research report on Friday. Sanford C. Bernstein increased their price objective on Coinbase Global from $80.00 to $200.00 and gave the company a market perform rating in a research report on Thursday, April 18th. Needham & Company LLC reduced their price objective on Coinbase Global from $275.00 to $260.00 and set a buy rating for the company in a research note on Friday. Finally, Oppenheimer boosted their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a research report on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of Hold and a consensus target price of $185.48.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $223.25 on Friday. The stock has a market cap of $54.09 billion, a price-to-earnings ratio of 44.56 and a beta of 3.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48. The stock’s 50 day moving average price is $236.37 and its 200 day moving average price is $165.79.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The company had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the previous year, the business earned ($2.46) EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities research analysts anticipate that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the sale, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $4,933,575. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,597 shares of company stock valued at $86,053,862. Corporate insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its stake in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares during the period. Concord Wealth Partners lifted its position in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares during the period. Mather Group LLC. acquired a new stake in Coinbase Global in the 1st quarter valued at $32,000. Barrett & Company Inc. bought a new stake in Coinbase Global in the fourth quarter valued at $26,000. Finally, Creekmur Asset Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $27,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.