Barclays Raises Coinbase Global (NASDAQ:COIN) Price Target to $204.00

Coinbase Global (NASDAQ:COIN) had its price objective raised by Barclays from $179.00 to $204.00 in a report issued on Monday, Benzinga reports. The firm currently has an underweight rating on the cryptocurrency exchange’s stock.

A number of other research analysts also recently weighed in on the stock. Citigroup increased their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the company a neutral rating in a research report on Friday, January 19th. Oppenheimer raised their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. The Goldman Sachs Group dropped their price target on Coinbase Global from $295.00 to $255.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Raymond James raised Coinbase Global from an underperform rating to a market perform rating in a report on Tuesday, March 12th. Finally, Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an underperform rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $200.63.

Coinbase Global Stock Performance

NASDAQ COIN opened at $210.45 on Monday. The company has a fifty day moving average price of $237.68 and a 200-day moving average price of $169.71. The firm has a market cap of $50.99 billion, a price-to-earnings ratio of 42.01 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The firm had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter last year, the firm earned ($2.46) EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, equities research analysts predict that Coinbase Global will post 2.71 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul Grewal sold 42,113 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 361,542 shares of company stock worth $81,392,237. Company insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its position in shares of Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after buying an additional 9,564 shares during the period. Masso Torrence Wealth Management Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $302,000. Mariner LLC increased its holdings in Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after buying an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after purchasing an additional 125 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Coinbase Global during the 4th quarter valued at approximately $1,035,000. Hedge funds and other institutional investors 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.