Barclays Boosts Coinbase Global (NASDAQ:COIN) Price Target to $206.00

Coinbase Global (NASDAQ:COIN) had its price objective raised by Barclays from $196.00 to $206.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s price target would indicate a potential upside of 0.20% from the stock’s current price.

COIN has been the subject of a number of other research reports. The Goldman Sachs Group cut their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Sanford C. Bernstein boosted their price target on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Friday, July 19th. Oppenheimer upped their target price on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Wedbush lifted their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $243.33.

Coinbase Global Stock Performance

COIN stock traded down $7.05 during midday trading on Friday, hitting $205.59. The stock had a trading volume of 3,274,852 shares, compared to its average volume of 11,211,407. The firm has a market capitalization of $50.49 billion, a price-to-earnings ratio of 41.81 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $235.19 and a 200 day simple moving average of $213.68. Coinbase Global has a 52 week low of $69.63 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. As a group, equities research analysts anticipate that Coinbase Global will post 4.95 earnings per share for the current year.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total transaction of $293,850.00. Following the completion of the sale, the chief operating officer now directly owns 204,436 shares of the company’s stock, valued at $40,049,012.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total value of $293,850.00. Following the transaction, the chief operating officer now directly owns 204,436 shares in the company, valued at approximately $40,049,012.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 257,101 shares of company stock valued at $55,742,178. 23.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in Coinbase Global by 833.3% in the first 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 in the last quarter. Concord Wealth Partners raised its stake in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares during the period. Mather Group LLC. bought a new position in Coinbase Global during the first quarter worth about $32,000. Crewe Advisors LLC grew its stake in Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the period. Finally, Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the second quarter worth about $29,000. 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.