Coinbase Global (NASDAQ:COIN)‘s stock had its “neutral” rating reiterated by investment analysts at Mizuho in a research note issued to investors on Thursday, The Fly reports. They currently have a $300.00 target price on the cryptocurrency exchange’s stock, up from their prior target price of $220.00. Mizuho’s price target points to a potential downside of 4.67% from the stock’s current price.
Several other analysts also recently commented on the stock. Redburn Partners initiated coverage on shares of Coinbase Global in a research report on Thursday, August 5th. They set a “buy” rating for the company. Bank of America began coverage on Coinbase Global in a report on Friday, August 13th. They issued a “neutral” rating and a $273.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on Coinbase Global from $265.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, August 11th. Wedbush increased their target price on Coinbase Global from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, August 11th. Finally, Oppenheimer reiterated a “buy” rating and issued a $444.00 target price on shares of Coinbase Global in a report on Wednesday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Buy” and a consensus target price of $360.42.
NASDAQ:COIN opened at $314.71 on Thursday. The firm’s 50 day moving average price is $252.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 1.47. Coinbase Global has a fifty-two week low of $208.00 and a fifty-two week high of $429.54.
Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Monday, August 9th. The cryptocurrency exchange reported $6.42 EPS for the quarter, topping the consensus estimate of $2.26 by $4.16. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.83 billion. The firm’s revenue for the quarter was up 1040.2% on a year-over-year basis. On average, sell-side analysts expect that Coinbase Global will post 13.96 EPS for the current year.
In other news, CAO Jennifer N. Jones sold 1,029 shares of Coinbase Global stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $263.00, for a total transaction of $270,627.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer N. Jones sold 4,918 shares of Coinbase Global stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $259.38, for a total value of $1,275,630.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,036,253 shares of company stock worth $270,006,315.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. S.A. Mason LLC increased its holdings in Coinbase Global by 11.2% in the 3rd quarter. S.A. Mason LLC now owns 844 shares of the cryptocurrency exchange’s stock worth $192,000 after acquiring an additional 85 shares during the last quarter. Rothschild Investment Corp IL grew its holdings in Coinbase Global by 6.7% during the 3rd quarter. Rothschild Investment Corp IL now owns 1,430 shares of the cryptocurrency exchange’s stock valued at $325,000 after buying an additional 90 shares in the last quarter. Crewe Advisors LLC purchased a new position in Coinbase Global during the 2nd quarter valued at about $25,000. Fifth Third Bancorp grew its holdings in Coinbase Global by 18.6% during the 3rd quarter. Fifth Third Bancorp now owns 637 shares of the cryptocurrency exchange’s stock valued at $145,000 after buying an additional 100 shares in the last quarter. Finally, Front Row Advisors LLC purchased a new position in Coinbase Global during the 2nd quarter valued at about $28,000. 20.26% of the stock is owned by institutional investors.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.
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