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Cryptocurrency News Articles
Coinbase Global (NASDAQ:COIN) Stock Price Target Raised to $320.00 by JMP Securities
Sep 10, 2024 at 06:04 am
Coinbase Global, Inc. (NASDAQ:COIN)'s stock price was up 3.4% during mid-day trading on Monday. The company traded as high as $157.40 and last traded at $152.30.
Coinbase Global (NASDAQ:COIN) stock price rose 3.4% in mid-day trading on Monday. The company traded as high as $157.40 and last traded at $152.30. Around 3,642,825 shares changed hands during mid-day trading, a decrease of 66% from the average daily volume of 10,669,383 shares. The stock had previously closed at $147.35.
Several brokerages have commented on COIN. In a research note on Friday, August 2, JMP Securities reiterated a “market outperform” rating and assigned a price target of $320.00 on shares of Coinbase Global. HC Wainwright decreased their price objective on shares of Coinbase Global from $315.00 to $295.00 and set a "buy" rating for the company in a report on Friday, August 2.
In a research report on Tuesday, August 6, Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and assigned a "buy" rating to the stock. Canaccord Genuity Group reiterated a "buy" rating and assigned a price target of $280.00 on shares of Coinbase Global in a research note on Friday, August 2. Finally, in a report on Monday, August 5, Needham & Company LLC reissued a "buy" rating and assigned a price target of $260.00 on shares of Coinbase Global.
One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $246.06.
Check out our latest research report on COIN to learn more about the company's recent performance and earnings.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, August 1. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned ($0.42) EPS. Coinbase Global's revenue for the quarter was up 104.8% compared to the same quarter last year.
Research analysts forecast that Coinbase Global, Inc. will post 4.28 earnings per share for the current year.
Coinbase Global stock price is down 72.07% year-to-date and has a beta of 3.36. The cryptocurrency exchange has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $38.53 billion, a PE ratio of 30.95 and a beta of 3.36.
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Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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