Coinbase Global (NASDAQ:COIN) Given New $285.00 Price Target at Piper Sandler

Coinbase Global (NASDAQ:COIN) had its price objective lifted by Piper Sandler from $245.00 to $285.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

A number of other research analysts have also commented on COIN. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $288.44.

Coinbase Global Stock Performance

NASDAQ COIN opened at $264.33 on Tuesday. The company’s fifty day moving average is $283.16 and its two-hundred day moving average is $228.80. Coinbase Global has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $66.18 billion, a price-to-earnings ratio of 45.11 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the business earned ($0.01) earnings per share. Equities research analysts forecast that Coinbase Global will post 4.44 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 305,641 shares of company stock worth $90,030,923 in the last quarter. Insiders own 23.43% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $409,919,000. Renaissance Technologies LLC increased its stake in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the last quarter. American Century Companies Inc. raised its position in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after acquiring an additional 435,886 shares during the period. Geode Capital Management LLC boosted its stake in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Finally, Azora Capital LP grew its holdings in Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the period. 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.