On March 24, 2023, TD Cowen downgraded their outlook for Coinbase Global, Inc. (NASDAQ:COIN) from Market Perform to Underperform.
Analyst Price Forecast Suggests 1.09% Upside
As of March 24, 2023, the average one-year price target for Coinbase Global, Inc. is $67.02. The forecasts range from a low of $30.30 to a high of $157.50. The average price target represents an increase of 1.09% from its latest reported closing price of $66.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Coinbase Global, Inc. is $3,421MM, an increase of 8.62%. The projected annual non-GAAP EPS is -$5.96.
What are Large Shareholders Doing?
AH Equity Partners III, L.L.C. holds 10,864K shares representing 4.69% ownership of the company. No change in the last quarter.
ARK Investment Management holds 9,189K shares representing 3.97% ownership of the company. In it’s prior filing, the firm reported owning 7,717K shares, representing an increase of 16.02%. The firm decreased its portfolio allocation in COIN by 18.76% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 7,310K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 5,535K shares, representing an increase of 24.29%. The firm decreased its portfolio allocation in COIN by 30.16% over the last quarter.
Nikko Asset Management Americas holds 7,000K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 5,199K shares, representing an increase of 25.73%. The firm decreased its portfolio allocation in COIN by 17.56% over the last quarter.
ARKK – ARK Innovation ETF holds 4,842K shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 4,994K shares, representing a decrease of 3.14%. The firm increased its portfolio allocation in COIN by 24.14% over the last quarter.
What is the Fund Sentiment?
There are 863 funds or institutions reporting positions in Coinbase Global, Inc.. This is a decrease of 80 owner(s) or 8.48% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.80%, a decrease of 7.55%. Total shares owned by institutions increased in the last three months by 5.73% to 124,259K shares. The put/call ratio of COIN is 1.33, indicating a bearish outlook.
Coinbase Global Background Information
(This description is provided by the company.)
Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.
This article originally appeared on Fintel
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