Oppenheimer Remains a Buy on Coinbase Global (COIN)

Oppenheimer analyst Owen Lau maintained a Buy rating on Coinbase Global (COIN – Research Report) today and set a price target of $282.00. The company’s shares closed yesterday at $228.85.

According to TipRanks, Lau is a 5-star analyst with an average return of 9.4% and a 67.42% success rate. Lau covers the Financial sector, focusing on stocks such as Coinbase Global, Moody’s, and Nasdaq.

In addition to Oppenheimer, Coinbase Global also received a Buy from Wedbush’s Moshe Katri in a report issued today. However, on the same day, Jefferies maintained a Hold rating on Coinbase Global (NASDAQ: COIN).

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.