Coinbase Global (NASDAQ:COIN) Given Market Outperform Rating at JMP Securities

Coinbase Global (NASDAQ:COIN)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $320.00 price target on the cryptocurrency exchange’s stock. JMP Securities’ price target points to a potential upside of 94.80% from the stock’s current price.

Several other brokerages have also recently weighed in on COIN. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Barclays upped their target price on Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday. HC Wainwright dropped their target price on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, Compass Point lowered their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $246.44.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $164.27 on Wednesday. Coinbase Global has a one year low of $70.42 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50-day moving average is $179.19 and its 200-day moving average is $214.32. The firm has a market cap of $40.34 billion, a price-to-earnings ratio of 32.79 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) EPS. Equities analysts predict that Coinbase Global will post 3.96 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the transaction, the chief financial officer now owns 182,903 shares in the company, valued at approximately $41,901,248.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,037 shares of company stock valued at $15,512,370. 23.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Exchange Traded Concepts LLC lifted its stake in shares of Coinbase Global by 25.7% in the third quarter. Exchange Traded Concepts LLC now owns 82,668 shares of the cryptocurrency exchange’s stock worth $14,729,000 after acquiring an additional 16,907 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in Coinbase Global by 4.8% in the third quarter. Carnegie Investment Counsel now owns 38,595 shares of the cryptocurrency exchange’s stock worth $6,876,000 after acquiring an additional 1,757 shares during the last quarter. Inspire Investing LLC boosted its position in Coinbase Global by 33.2% during the 3rd quarter. Inspire Investing LLC now owns 1,587 shares of the cryptocurrency exchange’s stock valued at $283,000 after purchasing an additional 396 shares during the period. Castle Rock Wealth Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at about $1,308,000. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Coinbase Global during the third quarter worth approximately $1,777,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

About Coinbase Global

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.