JMP Securities Reiterates Market Outperform Rating for Coinbase Global (NASDAQ:COIN)

Coinbase Global (NASDAQ:COIN)‘s stock had its “market outperform” rating restated by JMP Securities in a report issued on Friday, Benzinga reports. They presently have a $320.00 target price on the cryptocurrency exchange’s stock. JMP Securities’ price objective suggests a potential upside of 43.34% from the stock’s previous close.

Several other equities research analysts also recently weighed in on COIN. Citigroup raised their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Oppenheimer boosted their price target on Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Piper Sandler upped their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $185.48.

Coinbase Global Stock Down 2.4 %

NASDAQ:COIN traded down $5.60 during mid-day trading on Friday, hitting $223.25. 13,739,132 shares of the company’s stock were exchanged, compared to its average volume of 9,158,455. The company has a market cap of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global has a one year low of $46.43 and a one year high of $283.48. The business has a fifty day moving average price of $236.37 and a 200 day moving average price of $165.79.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the firm posted ($2.46) EPS. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities analysts predict that Coinbase Global will post 2.71 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the sale, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 420,597 shares of company stock worth $86,053,862. 33.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in COIN. Geneos Wealth Management Inc. increased its stake in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Team Hewins LLC bought a new stake in Coinbase Global in the first quarter worth $202,000. RIA Advisory Group LLC purchased a new stake in Coinbase Global during the first quarter valued at $299,000. Larson Financial Group LLC lifted its position in Coinbase Global by 34.8% during the first quarter. Larson Financial Group LLC now owns 473 shares of the cryptocurrency exchange’s stock valued at $125,000 after purchasing an additional 122 shares during the last quarter. Finally, Callan Capital LLC purchased a new position in shares of Coinbase Global in the 1st quarter worth $204,000. 68.84% of the stock is owned by institutional investors.

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.