Shares of Coinbase Global (NASDAQ:COIN) Have Earned a Consensus Recommendation of “Moderate Buy”

Shares of Coinbase Global, Inc. (NASDAQ:COIN) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock

Shares of Coinbase Global (NASDAQ:COIN) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company.

The average 1-year target price among analysts that have issued a report on the stock in the last year is $311.56.

Mizuho lowered their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Piper Sandler raised their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JMP Securities increased their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Oppenheimer set an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th.

Coinbase Global Stock Down 2.2 %

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. The company's earnings per share decreased compared to last year's fourth quarter, where it posted $1.17. For the quarter, the company reported revenue of $1.52 billion, exceeding analysts' estimates of $1.23 billion. The company's revenue showed a significant increase compared to last year's fourth quarter, which reported at $640.10 million.

Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts anticipate that Coinbase Global will post 7.22 earnings per share for the current year.

Point72 OmniHedge, LLC increased its holdings in Coinbase Global by 3.8% during the 3rd quarter. Point72 OmniHedge, LLC now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after purchasing an additional 952 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Coinbase Global by 36.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 1,005 shares during the last quarter.

Coinbase Global (NASDAQ:COIN) shares slipped by 2.2% in pre-market trading on Monday after Piper Sandler adjusted its price target for the stock. The firm raised its target price on Coinbase Global to $310 from $285 and maintains a Neutral rating on the stock.

A few other analysts also weighed in on Coinbase Global this week.

The Goldman Sachs Group lowered its price objective on shares of Coinbase Global from $397 to $340 and set a Neutral rating for the company in a research note on Friday, January 10.

Mizuho lowered its price target on shares of Coinbase Global from $290 to $280 and set a Neutral rating for the company in a report on Thursday, February 20.

JMP Securities increased its price objective on Coinbase Global from $400 to $475 and gave the stock a Market Outperform rating in a note on Friday, February 14.

Finally, Oppenheimer reiterated an Outperform rating on shares of Coinbase Global in a research report on Monday, February 10.

Coinbase Global is a cryptocurrency exchange that 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.

Coinbase Global last announced its quarterly earnings results on Thursday, February 13. The company reported $3.39 earnings per share for the quarter, topping the consensus estimates of $0.46 by $2.93. The company's earnings