Business

Coinbase Director Sells Shares, Analysts Weigh In on Stock

On Wednesday, February 28th, Director Kathryn Haun of Coinbase Global, Inc. (NASDAQ:COIN) sold 1,758 shares of the company’s stock, totaling $368,142.78. Following this transaction, the director now holds 95,630 shares in the company, valued at approximately $20,025,878.30.

Shares of NASDAQ COIN opened at $205.77 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03, and a current ratio of 1.03. With a market cap of $49.85 billion and a P/E ratio of 762.11, Coinbase Global, Inc. has a beta of 3.14. The firm’s fifty-day moving average is $152.44, and its two-hundred-day moving average is $114.77. The stock has seen a 52-week low of $46.43 and a 52-week high of $212.22.

In its quarterly earnings results announced on Thursday, February 15th, Coinbase Global reported $1.04 earnings per share (EPS) for the quarter, surpassing analysts’ consensus estimates of ($0.09) by $1.13. The company’s revenue for the quarter was $953.80 million, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s revenue for the quarter was up 51.6% compared to the same period last year.

Analysts have weighed in on COIN, with several brokerages adjusting their price targets and ratings. Piper Sandler raised their price target to $165.00 and gave the stock a “neutral” rating. Keefe, Bruyette & Woods upgraded Coinbase Global from an “underperform” rating to a “market perform” rating, lifting their price target from $93.00 to $160.00. TheStreet also upgraded Coinbase Global from a “d” rating to a “c-” rating. Mizuho lifted their price target to $84.00 and gave the stock an “underperform” rating, while Oppenheimer raised their price target to $200.00 and gave the stock an “outperform” rating.

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