Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) – Oppenheimer lifted their Q2 2022 earnings estimates for Coinbase Global in a research report issued to clients and investors on Monday, April 18th. Oppenheimer analyst O. Lau now expects that the cryptocurrency exchange will earn ($0.08) per share for the quarter, up from their previous forecast of ($0.13). Oppenheimer has a “Outperform” rating and a $314.00 price target on the stock. Oppenheimer also issued estimates for Coinbase Global’s Q3 2022 earnings at ($0.11) EPS, Q4 2022 earnings at ($0.14) EPS and FY2022 earnings at ($0.42) EPS.
COIN has been the subject of several other research reports. Canaccord Genuity Group cut their target price on Coinbase Global from $342.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, February 25th. The Goldman Sachs Group cut their target price on Coinbase Global from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Bank of America raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 target price for the company in a research note on Thursday, January 6th. Zacks Investment Research lowered Coinbase Global from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th. Finally, Citigroup cut their target price on Coinbase Global from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $311.95.
Shares of NASDAQ COIN opened at $151.27 on Wednesday. The firm has a market capitalization of $33.20 billion and a price-to-earnings ratio of 10.50. The business has a 50-day moving average of $177.87 and a 200-day moving average of $236.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.53. Coinbase Global has a 12 month low of $140.53 and a 12 month high of $368.90.
Coinbase Global (NASDAQ:COIN – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The cryptocurrency exchange reported $3.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $1.38. Coinbase Global had a return on equity of 77.65% and a net margin of 46.23%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $1.99 billion. The business’s revenue was up 325.6% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Morgan Stanley purchased a new stake in shares of Coinbase Global in the second quarter worth $172,984,000. Center for Financial Planning Inc. grew its stake in shares of Coinbase Global by 182.2% in the third quarter. Center for Financial Planning Inc. now owns 127 shares of the cryptocurrency exchange’s stock worth $29,000 after acquiring an additional 82 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Coinbase Global in the third quarter worth $33,000. Commonwealth Equity Services LLC grew its stake in shares of Coinbase Global by 21.4% in the third quarter. Commonwealth Equity Services LLC now owns 51,111 shares of the cryptocurrency exchange’s stock worth $11,626,000 after acquiring an additional 9,006 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of Coinbase Global by 85.5% in the third quarter. Banque Cantonale Vaudoise now owns 705 shares of the cryptocurrency exchange’s stock worth $160,000 after acquiring an additional 325 shares during the last quarter. 26.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Paul Grewal sold 1,207 shares of the company’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $173.87, for a total value of $209,861.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
About Coinbase Global (Get Rating)
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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