Coinbase Global (COIN) Gets a Hold from KBW

In a report released today, Kyle Voigt from KBW assigned a Hold rating to Coinbase Global (COIN – Research Report), with a price target of $240.00. The company’s shares closed yesterday at $228.85.

According to TipRanks, Voigt is a 4-star analyst with an average return of 4.7% and a 65.35% success rate. Voigt covers the Financial sector, focusing on stocks such as Charles Schwab, Nasdaq, and CME Group.

Currently, the analyst consensus on Coinbase Global is a Moderate Buy with an average price target of $229.14, which is a 0.13% upside from current levels. In a report released on April 30, Citi also maintained a Hold rating on the stock with a $260.00 price target.

Based on Coinbase Global’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $931.29 million and a net profit of $273.32 million. In comparison, last year the company earned a revenue of $601.16 million and had a GAAP net loss of $557 million

Based on the recent corporate insider activity of 167 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COIN in relation to earlier this year.

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Coinbase Global (COIN) Company Description:

Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world.