Recent Investment Analysts’ Ratings Changes for Coinbase Global (COIN)

Several analysts have recently updated their ratings and price targets for Coinbase Global (NASDAQ: COIN):

• 4/18/2024 – Coinbase Global had its price target raised by analysts at Sanford C. Bernstein from $80.00 to $200.00. They now have a “market perform” rating on the stock.
• 4/12/2024 – Coinbase Global had its price target raised by analysts at Mizuho from $84.00 to $145.00. They now have an “underperform” rating on the stock.
• 4/12/2024 – Coinbase Global had its price target raised by analysts at Piper Sandler from $225.00 to $245.00. They now have a “neutral” rating on the stock.
• 4/10/2024 – Coinbase Global had its price target raised by analysts at Bank of America Co. from $92.00 to $110.00. They now have an “underperform” rating on the stock.
• 4/8/2024 – Coinbase Global had its price target raised by analysts at Barclays PLC from $146.00 to $179.00. They now have an “underweight” rating on the stock.
• 4/4/2024 – Coinbase Global had its price target raised by analysts at Oppenheimer Holdings Inc. from $200.00 to $276.00. They now have an “outperform” rating on the stock.
• 4/3/2024 – Coinbase Global had its price target raised by analysts at Keefe, Bruyette & Woods from $160.00 to $230.00. They now have a “market perform” rating on the stock.
• 3/28/2024 – Coinbase Global had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $240.00 price target on the stock.
• 3/22/2024 – Coinbase Global had its “market outperform” rating reaffirmed by analysts at JMP Securities.
• 3/15/2024 – Coinbase Global had its price target raised by analysts at JPMorgan Chase & Co. from $95.00 to $150.00. They now have a “neutral” rating on the stock.
• 3/12/2024 – Coinbase Global was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating.
• 3/8/2024 – Coinbase Global was upgraded by analysts at The Goldman Sachs Group, Inc. from a “sell” rating to a “neutral” rating.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $236.43 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The firm has a market capitalization of $57.28 billion, a PE ratio of 875.67 and a beta of 3.41. The stock’s 50-day simple moving average is $228.18 and its 200-day simple moving average is $158.91.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company earned ($2.46) EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $213.99, for a total transaction of $3,505,156.20. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at $997,621.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the transaction, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total value of $3,505,156.20. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $997,621.38. The disclosure for this sale can be found here. Insiders have sold a total of 607,358 shares of company stock valued at $106,945,156 over the last quarter. Company insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $147,646,000. Morgan Stanley boosted its stake in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.