Coinbase Global (NASDAQ:COIN) Announces Earnings Results, Beats Expectations By $2.93 EPS

Coinbase Global, Inc. (NASDAQ:COIN) issued its earnings results on Thursday. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93, Zacks reports. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%.

Coinbase Global Stock Down 7.4 %

Shares of COIN traded down $21.97 on Friday, reaching $276.14. The stock had a trading volume of 11,562,792 shares, compared to its average volume of 8,312,529. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm has a market capitalization of $69.13 billion, a price-to-earnings ratio of 47.32 and a beta of 3.61. The company has a 50-day simple moving average of $282.36 and a 200-day simple moving average of $237.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COIN shares. JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday. Oppenheimer cut their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.17.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 386,798 shares of company stock valued at $114,707,944 over the last ninety days. Company insiders own 23.43% of the company’s stock.

Coinbase Global Company Profile

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.