Mizuho Issues Pessimistic Forecast for Coinbase Global (NASDAQ:COIN) Stock Price

Coinbase Global (NASDAQ:COIN) had its target price reduced by equities research analysts at Mizuho from $290.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the cryptocurrency exchange’s stock. Mizuho’s price target points to a potential upside of 18.96% from the stock’s current price.

COIN has been the subject of several other reports. Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. B. Riley assumed coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Monness Crespi & Hardt raised their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.50.

Coinbase Global Trading Down 8.3 %

Shares of NASDAQ COIN opened at $235.38 on Thursday. The stock has a market capitalization of $58.93 billion, a P/E ratio of 24.78 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business’s 50 day moving average is $275.76 and its two-hundred day moving average is $239.79. Coinbase Global has a 1-year low of $146.12 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, research analysts expect that Coinbase Global will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,386,983.38. This represents a 42.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 334,306 shares of company stock valued at $97,300,651. 23.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the business. Cache Advisors LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $1,587,000. CTC Alternative Strategies Ltd. purchased a new position in Coinbase Global during the fourth quarter valued at approximately $928,000. Sunbelt Securities Inc. lifted its holdings in Coinbase Global by 14.9% in the fourth quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange’s stock valued at $204,000 after acquiring an additional 104 shares during the period. Alpine Global Management LLC purchased a new stake in Coinbase Global in the 4th quarter worth approximately $640,000. Finally, Vise Technologies Inc. grew its stake in shares of Coinbase Global by 56.1% during the 4th quarter. Vise Technologies Inc. now owns 3,930 shares of the cryptocurrency exchange’s stock worth $976,000 after purchasing an additional 1,413 shares during the period. 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.