Compass Point Cuts Coinbase Global (NASDAQ:COIN) Price Target to $295.00

Coinbase Global (NASDAQ:COIN) had its price objective trimmed by Compass Point from $325.00 to $295.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other equities analysts have also commented on COIN. Needham & Company LLC reissued a buy rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday. Canaccord Genuity Group reiterated a buy rating and set a $280.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. HC Wainwright lowered their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a buy rating for the company in a report on Friday, August 2nd. Piper Sandler increased their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a neutral rating in a report on Friday, April 12th. Finally, Wedbush boosted their price target on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $248.38.

Coinbase Global Stock Performance

Coinbase Global stock opened at $191.43 on Tuesday. The firm’s 50 day simple moving average is $230.54 and its 200 day simple moving average is $215.85. The firm has a market capitalization of $47.01 billion, a PE ratio of 38.39 and a beta of 3.40. Coinbase Global has a 1-year low of $69.63 and a 1-year high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. Coinbase Global’s quarterly revenue was up 104.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.42) EPS. As a group, analysts expect that Coinbase Global will post 4.95 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total transaction of $293,850.00. Following the transaction, the chief operating officer now directly owns 204,436 shares of the company’s stock, valued at approximately $40,049,012.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total value of $293,850.00. Following the completion of the sale, the chief operating officer now directly owns 204,436 shares in the company, valued at $40,049,012.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The disclosure for this sale can be found here. Insiders sold a total of 242,221 shares of company stock worth $52,617,808 over the last quarter. 23.43% of the stock is owned by corporate insiders.

Institutional Trading of Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Norges Bank bought a new position in Coinbase Global during the 4th quarter valued at approximately $202,936,000. a16z Perennial Management L.P. purchased a new position in Coinbase Global during the fourth quarter valued at $147,646,000. Hamilton Lane Advisors LLC purchased a new position in Coinbase Global during the fourth quarter valued at $88,015,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other 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.