Coinbase Global (NASDAQ:COIN) Price Target Raised to $375.00 at Needham & Company LLC

Coinbase Global (NASDAQ:COIN) had its target price upped by Needham & Company LLC from $290.00 to $375.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the cryptocurrency exchange’s stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Barclays raised their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. Finally, Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $251.00.

Coinbase Global Trading Up 6.4 %

Coinbase Global stock opened at $325.41 on Monday. The firm’s 50-day moving average is $202.13 and its 200-day moving average is $212.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global has a 1 year low of $100.01 and a 1 year high of $334.86. The company has a market cap of $81.47 billion, a P/E ratio of 55.53 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global will post 4.27 earnings per share for the current year.

Insider Activity

In related news, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,822 shares of company stock valued at $30,921,194 over the last 90 days. 23.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global during the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC lifted its position in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after buying an additional 6,963 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Coinbase Global during the 2nd quarter worth about $2,908,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Coinbase Global by 237.5% in the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after purchasing an additional 23,040 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.