Piper Sandler Boosts Coinbase Global (NASDAQ:COIN) Price Target to $245.00

Coinbase Global (NASDAQ:COIN) had its price target hoisted by Piper Sandler from $225.00 to $245.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the cryptocurrency exchange’s stock.

A number of other research analysts have also weighed in on COIN. Citigroup lifted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a neutral rating in a research note on Friday, January 19th. Oppenheimer lifted their price target on Coinbase Global from $200.00 to $276.00 and gave the company an outperform rating in a research report on Thursday, April 4th. TheStreet raised Coinbase Global from a d rating to a c- rating in a report on Friday, February 16th. Barclays raised their target price on Coinbase Global from $146.00 to $179.00 and gave the stock an underweight rating in a research note on Monday, April 8th. Finally, HC Wainwright upped their price target on Coinbase Global from $115.00 to $250.00 and gave the company a buy rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of Hold and a consensus price target of $163.70.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $223.41 on Friday. The firm has a market cap of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41. The stock has a fifty day simple moving average of $217.78 and a two-hundred day simple moving average of $152.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global has a 1-year low of $46.43 and a 1-year high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.46) EPS. Analysts anticipate that Coinbase Global will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the transaction, the director now owns 4,662 shares in the company, valued at $1,194,357.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the sale, the insider now owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $256.19, for a total transaction of $4,196,392.20. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $1,194,357.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 660,039 shares of company stock valued at $109,435,051. 33.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of COIN. Ancora Advisors LLC increased its stake in shares of Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares during the period. Barrett & Company Inc. purchased a new position in Coinbase Global during the 4th quarter valued at $26,000. Creekmur Asset Management LLC bought a new position in Coinbase Global in the 4th quarter worth $27,000. Tyler Stone Wealth Management purchased a new stake in shares of Coinbase Global in the 2nd quarter worth about $31,000. Finally, Quarry LP bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors 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.