Coinbase Global (NASDAQ:COIN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Coinbase Global (NASDAQ:COIN) had its price target upped by research analysts at Jefferies Financial Group from $151.00 to $181.00 in a report issued on Thursday,MarketScreener reports. The firm currently has a “hold” rating on the cryptocurrency exchange’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 6.55% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. UBS Group set a $264.00 price target on shares of Coinbase Global in a report on Friday, February 13th. 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 report on Wednesday, February 25th. Rosenblatt Securities lowered their price target on shares of Coinbase Global from $325.00 to $240.00 and set a “buy” rating for the company in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $250.00 target price on shares of Coinbase Global in a research report on Friday, February 13th. Finally, Robert W. Baird reduced their price target on shares of Coinbase Global from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Nineteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $262.94.

Read Our Latest Stock Report on Coinbase Global

Coinbase Global Price Performance

Coinbase Global stock opened at $169.88 on Thursday. The company’s 50 day simple moving average is $179.55 and its 200-day simple moving average is $248.40. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 3.31 and a beta of 3.60. Coinbase Global has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34.

Coinbase Global (NASDAQ:COINGet Free Report) last released 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). The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Coinbase Global had a net margin of 17.55% and a return on equity of 8.68%. Coinbase Global’s revenue was down 21.6% on a year-over-year basis. During the same period last year, the firm posted $4.68 earnings per share. As a group, equities research analysts expect that Coinbase Global will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the business’s stock in a transaction on 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 9,950 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $201.60, for a total transaction of $2,005,920.00. Following the sale, the chief financial officer owned 387,221 shares of the company’s stock, valued at approximately $78,063,753.60. The trade was a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 396,745 shares of company stock valued at $63,576,559. 16.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently modified their holdings of COIN. REAP Financial Group LLC bought a new position in shares of Coinbase Global during the third quarter worth about $25,000. MV Capital Management Inc. acquired a new stake in Coinbase Global in the fourth quarter worth about $27,000. Palisade Asset Management LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $29,000. Salomon & Ludwin LLC boosted its position in Coinbase Global by 4,400.0% during the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, Osbon Capital Management LLC bought a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $30,000. Institutional investors own 68.84% of the company’s stock.

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About Coinbase Global

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Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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