COIN Stock: What's the Forecast After Q3 Earnings?

COIN opened at $254.31 on Thursday. The stock's 50 day simple moving average is $180.54 and its 200-day simple moving average is $208.28.

Robecco Institutional Asset Management B.V.'s holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) decreased by 4.9% during Q3, recent SEC filings have revealed. The institutional investor began the 3rd quarter with 77,647 shares of the cryptocurrency exchange's stock, and sold 4,000 shares during the quarter, leaving them with 73,647 shares at the quarter's end. The value of Robeco Institutional Asset Management B.V.'s COIN holdings was $13,834,000 at the end of the most recent quarter.

Several other large investors also recently adjusted their positions in COIN. Crewe Advisors LLC increased its stake in Coinbase Global by 547.4% during Q2. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock valued at $27,000 after purchasing an additional 104 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the 2nd quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its position in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange's stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc lifted its stake in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange's stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Coinbase Global in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Performance

COIN opened at $254.31 on Thursday. The stock's 50 day simple moving average is $180.54 and its 200-day simple moving average is $208.28. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $63.19 billion, a PE ratio of 43.40 and a beta of 3.34. Coinbase Global, Inc. has a 1 year low of $84.30 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company's quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently covered COIN shares in their research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Compass Point lowered their price objective on Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Mizuho boosted their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Piper Sandler reiterated a "neutral" rating and set a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. Finally, Barclays boosted their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating,