Needham & Company LLC Reaffirms “Buy” Rating for Coinbase Global (NASDAQ:COIN)

Needham & Company LLC reiterated their buy rating on shares of Coinbase Global (NASDAQ:COIN) in a report published on Friday morning, Benzinga reports. They currently have a $260.00 target price on the cryptocurrency exchange’s stock.

Several other research firms have also weighed in on COIN. Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a market perform rating in a research note on Friday, May 3rd. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Bank of America upgraded shares of Coinbase Global from an underperform rating to a neutral rating and boosted their price objective for the stock from $110.00 to $217.00 in a research note on Friday, May 17th. HC Wainwright restated a buy rating and set a $315.00 price objective on shares of Coinbase Global in a research note on Tuesday, June 18th. Finally, Sanford C. Bernstein upped their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a market perform rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of Hold and an average price target of $225.38.

Coinbase Global Stock Up 2.9 %

Shares of COIN stock opened at $265.15 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global has a 1 year low of $69.63 and a 1 year high of $283.48. The firm’s fifty day moving average price is $232.35 and its two-hundred day moving average price is $209.76. The firm has a market capitalization of $65.11 billion, a P/E ratio of 52.92 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, equities analysts predict that Coinbase Global will post 5 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.70, for a total transaction of $344,550.00. Following the sale, the chief operating officer now directly owns 196,471 shares of the company’s stock, valued at approximately $45,129,388.70. The disclosure for this sale can be found here. Insiders sold 281,676 shares of company stock valued at $61,093,678 in the last quarter. Company insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Barrett & Company Inc. bought a new position in Coinbase Global in the 4th quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in Coinbase Global in the 4th quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in Coinbase Global in the 2nd quarter valued at approximately $29,000. Concord Wealth Partners lifted its stake in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted 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 valued at $30,000 after purchasing an additional 100 shares during the last quarter. Institutional investors 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.