Coinbase Global Stock Receives Average 'Hold' Rating
Coinbase Global, Inc.'s (NASDAQ:COIN) stock has been given an average rating of 'Hold' by 32 brokerages, according to MarketBeat reports. This rating is based on a total of five sell recommendations, nine hold recommendations, and eighteen buy recommendations. The average target price among analysts who have issued ratings in the last year is $216.87.
The company has seen recent changes in its institutional ownership, with Palisade Asset Management LLC acquiring a new stake in Coinbase Global during the third quarter worth $29,000, and 68.84% of the stock being owned by institutional investors and hedge funds. Additionally, Director Frederick R. Wilson sold 35,068 shares of the company's stock on August 3rd at an average price of $144.32, and CAO Jennifer N. Jones sold 2,062 shares on August 24th at an average price of $188.75.
Coinbase Global has a one-year low of $139.11 and a one-year high of $402.16, with a market cap of $49.63 billion. The company's 50-day moving average is $160.89 and its two-hundred day moving average is $174.86.
The cryptocurrency exchange reported earnings per share (EPS) of ($1.36) for the quarter, missing analysts' consensus estimates of ($0.44). Coinbase Global had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, research analysts expect that Coinbase Global will post -0.06 earnings per share for the current fiscal year.