Coinbase Global (NASDAQ:COIN) PT Raised to $204.00 at Barclays

Coinbase Global (NASDAQ:COIN) had its price objective increased by Barclays from $179.00 to $204.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the cryptocurrency exchange’s stock. Barclays‘s target price would indicate a potential downside of 11.15% from the stock’s previous close.

Several other research analysts have also commented on the company. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Friday. Bank of America boosted their target price on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Oppenheimer boosted their price target on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday. Finally, HC Wainwright boosted their target price on Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $193.85.

Coinbase Global Stock Performance

Shares of COIN traded up $6.35 during trading hours on Monday, hitting $229.60. The stock had a trading volume of 5,320,523 shares, compared to its average volume of 13,237,418. The stock has a fifty day moving average price of $236.37 and a 200 day moving average price of $167.06. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $55.63 billion, a PE ratio of 45.80 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm 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 9.42% and a net margin of 33.98%. Coinbase Global’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.46) earnings per share. Analysts anticipate that Coinbase Global will post 2.71 EPS for the current year.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the sale, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at approximately $4,933,575. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,597 shares of company stock valued at $86,053,862. Company insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Team Hewins LLC purchased a new position in shares of Coinbase Global during the first quarter worth approximately $202,000. RIA Advisory Group LLC purchased a new position in shares of Coinbase Global in the 1st quarter worth about $299,000. Larson Financial Group LLC raised its position in shares of Coinbase Global by 34.8% in the 1st quarter. Larson Financial Group LLC now owns 473 shares of the cryptocurrency exchange’s stock worth $125,000 after purchasing an additional 122 shares during the last quarter. Finally, Callan Capital LLC purchased a new stake in shares of Coinbase Global during the 1st quarter worth approximately $204,000. 68.84% of the stock is currently owned by institutional investors.

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.