Mizuho Issues Pessimistic Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price target decreased by Mizuho from $290.00 to $280.00 in a research note published on Thursday morning,Benzinga reports. Mizuho currently has a neutral rating on the cryptocurrency exchange’s stock.

COIN has been the topic of a number of other reports. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. HC Wainwright boosted their price target on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Oppenheimer dropped their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, The Goldman Sachs Group decreased their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

Coinbase Global Stock Down 8.3 %

Shares of NASDAQ COIN opened at $235.38 on Thursday. The business has a 50-day moving average price of $275.76 and a 200 day moving average price of $240.11. The stock has a market cap of $59.76 billion, a PE ratio of 24.78 and a beta of 3.61. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts forecast that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $161,639.80. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 334,306 shares of company stock valued at $97,300,651 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the stock. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in Coinbase Global in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the third quarter worth about $25,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Coinbase Global in the 4th quarter worth about $35,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.