Coinbase Global (NASDAQ:COIN) Price Target Raised to $200.00 at Sanford C. Bernstein

Coinbase Global (NASDAQ:COIN) had its price objective boosted by Sanford C. Bernstein from $80.00 to $200.00 in a report published on Thursday, Benzinga reports. The firm currently has a market perform rating on the cryptocurrency exchange’s stock.

Several other research analysts also recently issued reports on COIN. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $160.00 to $230.00 and gave the stock a market perform rating in a report on Wednesday, April 3rd. Barclays raised their price target on Coinbase Global from $146.00 to $179.00 and gave the company an underweight rating in a report on Monday, April 8th. Bank of America lifted their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an underperform rating in a research report on Wednesday, April 10th. TheStreet raised shares of Coinbase Global from a d rating to a c- rating in a report on Friday, February 16th. Finally, Needham & Company LLC upped their target price on shares of Coinbase Global from $160.00 to $180.00 and gave the company a buy rating in a research report on Monday, January 8th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $165.43.

Coinbase Global Price Performance

Coinbase Global stock opened at $218.08 on Thursday. Coinbase Global has a 52 week low of $46.43 and a 52 week high of $283.48. The firm has a market cap of $52.83 billion, a P/E ratio of 807.70 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The business’s fifty day moving average is $223.31 and its two-hundred day moving average is $154.63.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.46) EPS. Equities research analysts forecast that Coinbase Global will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares in the company, valued at approximately $50,142,490.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Alesia J. Haas sold 64,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the sale, the chief financial officer now directly owns 219,490 shares in the company, valued at $50,142,490.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00. Following the transaction, the chief operating officer now owns 215,351 shares of the company’s stock, valued at approximately $53,407,048. The disclosure for this sale can be found here. Insiders have sold a total of 590,978 shares of company stock worth $103,440,000 over the last three months. Corporate insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of COIN. Barrett & Company Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Ancora Advisors LLC increased its holdings in Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after buying an additional 435 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Coinbase Global during the fourth quarter worth $27,000. Tyler Stone Wealth Management acquired a new stake in Coinbase Global in the second quarter valued at $31,000. Finally, Mather Group LLC. bought a new position in shares of Coinbase Global in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.