Citizens Jmp Lowers Coinbase Global (NASDAQ:COIN) Price Target to $325.00

Coinbase Global (NASDAQ:COIN) had its price objective decreased by investment analysts at Citizens Jmp from $355.00 to $325.00 in a report released on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the cryptocurrency exchange’s stock. Citizens Jmp’s price objective suggests a potential upside of 104.31% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Rothschild & Co Redburn increased their target price on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wedbush set a $224.00 price target on shares of Coinbase Global in a report on Friday, May 8th. President Capital upped their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer dropped their price objective on shares of Coinbase Global from $227.00 to $224.00 in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $251.79.

Coinbase Global Trading Up 0.4%

Shares of COIN opened at $159.07 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global has a 52-week low of $139.18 and a 52-week high of $444.64. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 59.80, a PEG ratio of 5.56 and a beta of 3.35. The business’s fifty day moving average is $173.89 and its 200-day moving average is $189.89.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. Coinbase Global’s quarterly revenue was down 30.5% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the sale, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the sale, the chief financial officer owned 377,201 shares in the company, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 40,647 shares of company stock valued at $7,331,841. 16.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the business. Palisade Asset Management LLC bought a new position in shares of Coinbase Global during the third quarter valued at $29,000. MV Capital Management Inc. bought a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Osbon Capital Management LLC bought a new stake in shares of Coinbase Global in the fourth quarter worth $30,000. JPL Wealth Management LLC acquired a new stake in Coinbase Global in the third quarter valued at $49,000. Finally, Brooklands Fund Management Ltd acquired a new stake in Coinbase Global in the fourth quarter valued at $34,000. 68.84% of the stock is owned by institutional investors.

Key Stories Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
• Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
• Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
• Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
• Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.