Barclays Has Lowered Expectations for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its price target reduced by investment analysts at Barclays from $359.00 to $352.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the cryptocurrency exchange's stock. Barclays's target price indicates a potential upside of 7.98% from the company's current price.

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COIN has been the topic of a number of other reports. Cantor Fitzgerald began coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target on the stock. Argus began coverage on shares of Coinbase Global in a report on Monday, July 14th. They issued a "buy" rating and a $400.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $470.00 price target on shares of Coinbase Global in a report on Friday. Benchmark lifted their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $344.55.

Check Out Our Latest Analysis on COIN

Coinbase Global Stock Down 13.7%

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Shares of COIN stock opened at $326.00 on Friday. The company has a market capitalization of $82.76 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 26.30 and a beta of 3.70. Coinbase Global has a one year low of $142.58 and a one year high of $444.64. The company's fifty day moving average price is $326.60 and its 200-day moving average price is $259.23. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $5.14 EPS for the quarter, beating the consensus estimate of $0.91 by $4.23. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company's revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. Sell-side analysts expect that Coinbase Global will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

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In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at $190,732.86. The trade was a 99.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the sale, the director directly owned 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,208,340 shares of company stock valued at $439,997,456. 17.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in the stock. Cadent Capital Advisors LLC boosted its position in Coinbase Global by 1.0% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange's stock valued at $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. raised its holdings in shares of Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock valued at $68,000 after purchasing an additional 30 shares in the last quarter. Pettinga Financial Advisors LLC raised its holdings in shares of Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange's stock valued at $463,000 after purchasing an additional 34 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of Coinbase Global by 12.1% in the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange's stock valued at $123,000 after purchasing an additional 38 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Coinbase Global by 13.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange's stock valued at $113,000 after purchasing an additional 39 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.

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