Coinbase Global, Inc. (NASDAQ:COIN) – Investment analysts at Piper Sandler decreased their Q1 2022 earnings per share estimates for shares of Coinbase Global in a research report issued on Thursday, October 7th. Piper Sandler analyst R. Repetto now forecasts that the cryptocurrency exchange will post earnings of $2.62 per share for the quarter, down from their prior estimate of $2.63. Piper Sandler also issued estimates for Coinbase Global’s Q4 2022 earnings at $1.14 EPS. Coinbase Global (NASDAQ:COIN) last issued its earnings results on Monday, August 9th. The cryptocurrency exchange reported $6.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $4.16. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.83 billion. Coinbase Global’s quarterly revenue was up 1040.2% on a year-over-year basis.
Several other equities research analysts have also issued reports on COIN. Rosenblatt Securities lifted their price objective on shares of Coinbase Global from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, August 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $265.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, August 11th. DA Davidson initiated coverage on shares of Coinbase Global in a research note on Monday, August 9th. They issued a “buy” rating and a $400.00 price objective for the company. Wedbush lifted their price objective on shares of Coinbase Global from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, August 11th. Finally, Bank of America initiated coverage on shares of Coinbase Global in a research note on Friday, August 13th. They issued a “neutral” rating and a $273.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $354.63.
COIN stock opened at $248.14 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 1.47. Coinbase Global has a 1 year low of $208.00 and a 1 year high of $429.54. The firm has a fifty day simple moving average of $250.45.
A number of large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC acquired a new position in Coinbase Global in the second quarter valued at about $1,422,891,000. Vanguard Group Inc. acquired a new position in Coinbase Global in the second quarter valued at about $1,301,556,000. Nikko Asset Management Americas Inc. acquired a new position in Coinbase Global in the second quarter valued at about $859,736,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Coinbase Global in the second quarter valued at about $830,242,000. Finally, FMR LLC acquired a new position in Coinbase Global in the second quarter valued at about $341,269,000. Hedge funds and other institutional investors own 20.26% of the company’s stock.
In related news, Director Frederick Ernest Ehrsam III sold 10,312 shares of the company’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $257.93, for a total value of $2,659,774.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 46,289 shares of the company’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $259.05, for a total transaction of $11,991,165.45. Following the completion of the sale, the insider now directly owns 33,746 shares in the company, valued at approximately $8,741,901.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 928,604 shares of company stock worth $240,437,560.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.
See Also: Dividend Aristocrat Index
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Coinbase Global, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Coinbase Global wasn’t on the list.
While Coinbase Global currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.