Coinbase Global (NASDAQ:COIN) Price Target Raised to $421.00

Coinbase Global (NASDAQ:COIN) had its target price boosted by Benchmark from $301.00 to $421.00 in a research note issued to investors on Monday,Benzinga reports. Benchmark currently has a buy rating on the cryptocurrency exchange’s stock.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group reissued a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. Compass Point raised shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 target price for the company in a research note on Monday, May 12th. Cantor Fitzgerald assumed coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price on the stock. Barclays increased their price objective on Coinbase Global from $169.00 to $202.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Oppenheimer set a $293.00 price target on shares of Coinbase Global in a report on Thursday, May 15th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.42.

Coinbase Global Stock Up 3.1%

COIN stock opened at $355.37 on Monday. Coinbase Global has a 52 week low of $142.58 and a 52 week high of $369.28. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $90.22 billion, a price-to-earnings ratio of 66.55, a price-to-earnings-growth ratio of 25.22 and a beta of 3.61. The firm’s 50-day moving average is $242.10 and its two-hundred day moving average is $241.14.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. Coinbase Global’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 earnings per share. On average, analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,632,167.56. The trade was a 74.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $88,646.78. The trade was a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212,915 shares of company stock valued at $48,349,215. 17.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global during the fourth quarter worth approximately $26,000. Atala Financial Inc acquired a new stake in Coinbase Global in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global in the fourth quarter valued at $35,000. Finally, Brooklands Fund Management Ltd bought a new stake in shares of Coinbase Global during the fourth quarter worth about $37,245,000. 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.