Coinbase Global (NASDAQ:COIN) Given Market Outperform Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Coinbase Global (NASDAQ:COIN) in a research report report published on Friday, Benzinga reports. The firm currently has a $320.00 price target on the cryptocurrency exchange’s stock.

Several other research firms have also recently commented on COIN. Wedbush boosted their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an outperform rating in a research report on Friday. Piper Sandler boosted their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the company a neutral rating in a research report on Friday, April 12th. Raymond James upgraded Coinbase Global from an underperform rating to a market perform rating in a research note on Tuesday, March 12th. Barclays boosted their price target on Coinbase Global from $146.00 to $179.00 and gave the stock an underweight rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $230.00 to $240.00 and gave the stock a market perform rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $185.48.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $223.25 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The stock’s 50 day moving average price is $236.37 and its 200-day moving average price is $165.79. Coinbase Global has a twelve month low of $46.43 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the previous year, the firm posted ($2.46) EPS. Coinbase Global’s revenue was up 51.6% on a year-over-year basis. On average, equities analysts anticipate that Coinbase Global will post 2.71 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares in the company, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock worth $86,053,862 in the last 90 days. Insiders own 33.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in Coinbase Global by 833.3% during the 1st 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 during the period. Team Hewins LLC acquired a new stake in shares of Coinbase Global during the first quarter worth about $202,000. RIA Advisory Group LLC acquired a new stake in shares of Coinbase Global during the first quarter worth about $299,000. Larson Financial Group LLC grew its holdings in shares of Coinbase Global by 34.8% in the first quarter. Larson Financial Group LLC now owns 473 shares of the cryptocurrency exchange’s stock valued at $125,000 after purchasing an additional 122 shares in the last quarter. Finally, Callan Capital LLC acquired a new position in shares of Coinbase Global in the first quarter valued at approximately $204,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

About Coinbase Global

Coinbase Global, Inc 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.