Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities
Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research note that was issued on Wednesday, Benzinga reports. They also set a price target of $305.0. As the potential upside from the company’s previous close, this would indicate a 61.74% gain.
Several other equities analysts have also commented on COIN. JMP Securities increased their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. HC Wainwright restated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.
Coinbase Global Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. The company's earnings were a whopping 880.00%. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Both of these metrics highlight the company's ability to generate substantial returns on the investments made by shareholders and generate profit relative to revenue. Coinbase Global's revenue for the quarter was $669.9 million, which exceeded the top-line estimate of $496.08 million and demonstrated a 250.00% increase over last year's quarter. During the same quarter in the previous year, the company reported an EPS of $0.40. Both earnings and revenue figures showed significant improvement compared to the same period in the past year. As we move forward, equities research analysts anticipate that Coinbase Global will post 7.22 EPS for the current fiscal year.
In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,114,162.15. The trade was a 70.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,609 shares of company stock valued at $61,331,908 in the last three months. Company insiders own 23.43% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 0.7% in the 4
