Coinbase Global, Inc. (NASDAQ:COIN) Receives Average Rating of “Moderate Buy” from Brokerages

Coinbase Global, Inc. (NASDAQ:COIN) has received an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $397.3552.

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, October 31st. Monness Crespi & Hardt downgraded Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Canaccord Genuity Group reiterated a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Benchmark reissued a “buy” rating on shares of Coinbase Global in a research note on Friday, October 31st. Finally, Wall Street Zen raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares in the company, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 205,657 shares of company stock valued at $67,989,576. Insiders own 23.43% of the company’s stock.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in COIN. Evelyn Partners Investment Management Europe Ltd lifted its stake in shares of Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. REAP Financial Group LLC purchased a new position in Coinbase Global in the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global during the second quarter valued at approximately $30,000. Salomon & Ludwin LLC grew its stake in Coinbase Global by 4,400.0% during the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 88 shares during the period. Finally, City State Bank purchased a new stake in Coinbase Global during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.7%

Shares of COIN stock opened at $309.14 on Wednesday. The company has a market capitalization of $83.36 billion, a price-to-earnings ratio of 26.74 and a beta of 3.67. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $333.93 and a 200 day moving average price of $312.01. Coinbase Global has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. Research analysts forecast that Coinbase Global will post 7.22 earnings per share for the current fiscal year.

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.