Coinbase Global (COIN) Receives an Average Rating of “Hold” from Analysts

Twenty analysts are covering Coinbase Global, Inc. (NASDAQ:COIN) stock, with an average rating of “Hold”, according to MarketBeat.com. One sells rating, nine hold ratings, and ten buy ratings have been assigned by investment analysts covering the stock for the company. The average 12-month target price among brokers that covered the stock in the last year is $285.28.

Coinbase Global Stock Down 0.5%

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that Coinbase Global will post 4.44 EPS for the current fiscal year.

Several analysts have recently weighed in on COIN shares. Oppenheimer increased their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Monness Crespi & Hardt upped their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a report on Friday, December 20th.

Coinbase Global is one of the world’s largest cryptocurrency exchanges, facilitating the buying, selling, trading, and storage of digital assets for retail and institutional investors in over 100 countries. The company’s platform offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Dogecoin, as well as advanced trading tools, custody services, and a mobile application. Coinbase Global was founded in 2012 and is headquartered in San Francisco, California.

Insiders Selling Coinbase Global Stock

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 4.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 328,483 shares of company stock worth $96,470,997. Insiders own 23.43% of the company’s stock.

Coinbase Global began trading on the NASDAQ Global Select Market on April 14, 2021, under the ticker symbol “COIN.” The stock has been closely followed by investors due to