The Goldman Sachs Group boosted its price target for Coinbase Global (COIN) from $264.00 to $270.00 in a research note issued on Friday, while maintaining a Buy rating on the cryptocurrency exchange’s stock. The target implies a potential upside of 36.88% from the current price. Several other equities research analysts also weighed in on COIN. President Capital dropped their target price on shares of Coinbase Global from $472.00 to $236.00 and set a Buy rating for the company in a research report on Wednesday, February 25th.
Oppenheimer reduced their price target on shares of Coinbase Global from $381.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Needham & Company LLC decreased their price target on Coinbase Global from $290.00 to $230.00 and set a Buy rating for the company in a research note on Friday, February 13th. Wall Street Zen lowered Coinbase Global from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. UBS Group set a $264.00 price objective on Coinbase Global in a research note on Friday, February 13th.
Nineteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $270.87. Coinbase Global stock opened at $197.25 on Friday. Coinbase Global has a 52 week low of $139.36 and a 52 week high of $444.64.
The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. The stock has a market cap of $52.09 billion, a P/E ratio of 44.93, a price-to-earnings-growth ratio of 2.83 and a beta of 3.70. The stock has a 50 day moving average of $201.95 and a 200-day moving average of $269.02. Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 12th.
The cryptocurrency exchange reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm posted $4.68 EPS.
The firm’s quarterly revenue was down 21.6% on a year-over-year basis. On average, analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year. In related news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $250.27, for a total transaction of $344,121.25.
The transaction was disclosed in a document filed with the SEC. Also, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 397,171 shares in the company, valued at $79,434,200.
This represents a 2.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in Coinbase Global by 24.2% in the first quarter.
Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 413 shares during the period. Empowered Funds LLC boosted its holdings in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after acquiring an additional 1,761 shares during the period. Focus Partners Wealth grew its position in shares of Coinbase Global by 9.9% during the first quarter.
Sivia Capital Partners LLC bought a new position in shares of Coinbase Global during the second quarter worth about $285,000. Finally, Atria Investments Inc acquired a new stake in shares of Coinbase Global in the 2nd quarter worth about $1,137,000. Institutional investors own 68.84% of the company’s stock. Here are the key news stories impacting Coinbase Global this week: Positive Sentiment: High-profile political support: CEO Brian Armstrong met privately with former President Trump, who publicly voiced backing for crypto-friendly legislation (the CLARITY Act). That endorsement helped spark a mid-week rally in crypto prices and COIN shares.
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