Coinbase Global (NASDAQ:COIN) Price Target Increased to $204.00 by Analysts at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective raised by Barclays from $179.00 to $204.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an underweight rating on the cryptocurrency exchange’s stock.

A number of other research firms have also weighed in on COIN. Raymond James raised Coinbase Global from an underperform rating to a market perform rating in a report on Tuesday, March 12th. Mizuho raised their target price on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an underperform rating in a research note on Friday, April 12th. TheStreet raised shares of Coinbase Global from a d rating to a c- rating in a report on Friday, February 16th. Wedbush increased their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the company an outperform rating in a report on Friday. Finally, Oppenheimer boosted their price objective on Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a report on Friday. Three equities research 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 MarketBeat, the stock has an average rating of Hold and a consensus target price of $193.85.

Coinbase Global Stock Performance

Shares of COIN opened at $226.93 on Monday. The company has a market cap of $54.98 billion, a PE ratio of 45.30 and a beta of 3.46. The firm has a 50-day moving average of $236.37 and a 200-day moving average of $167.06. Coinbase Global has a one year low of $46.43 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 33.98% and a return on equity of 9.42%. Coinbase Global’s revenue was up 51.6% on a year-over-year basis. During the same period last year, the business posted ($2.46) EPS. As a group, equities analysts forecast that Coinbase Global will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of Coinbase Global stock in a transaction 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 transaction, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 over the last quarter. 33.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Xponance Inc. increased its position in Coinbase Global by 5.6% during the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock worth $470,000 after purchasing an additional 333 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock worth $282,000 after buying an additional 125 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Coinbase Global by 84.0% in the 3rd quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock valued at $687,000 after acquiring an additional 4,175 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Coinbase Global by 50.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,524 shares of the cryptocurrency exchange’s stock valued at $340,000 after acquiring an additional 1,517 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in Coinbase Global by 4.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,970 shares of the cryptocurrency exchange’s stock worth $2,250,000 after acquiring an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.