Coinbase Global Upgraded by Compass Point Amid Ongoing Analyst Coverage

Compass Point, a brokerage firm, upgraded its rating for Coinbase Global (NASDAQ:COIN) from 'sell' to 'neutral', according to a report issued on Monday. This change in sentiment comes with a price target of $177.00, up from the previous target of $130.00.

The upgrade suggests a potential upside of 0.99% from Coinbase's previous close. Compass Point joins other firms such as Morgan Stanley and Goldman Sachs Group in providing research notes on COIN. While Cantor Fitzgerald reiterated an 'overweight' rating, Deutsche Bank Aktiengesellschaft reissued a 'buy' rating.

Insiders have sold 70,806 shares of Coinbase Global stock worth $11,307,687 over the last 90 days. Institutional investors hold 68.84% of the company's stock, with large investors adding to their stakes in the second and fourth quarters.