Fintel reports that on May 5, 2023, Goldman Sachs maintained coverage of Coinbase Global Inc – (NASDAQ:COIN) with a Sell recommendation.
Analyst Price Forecast Suggests 51.56% Upside
As of April 24, 2023, the average one-year price target for Coinbase Global Inc – is 74.60. The forecasts range from a low of 30.30 to a high of $210.00. The average price target represents an increase of 51.56% from its latest reported closing price of 49.22.
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 25.75%. The projected annual non-GAAP EPS is -5.96.
What is the Fund Sentiment?
There are 891 funds or institutions reporting positions in Coinbase Global Inc -. This is an increase of 22 owner(s) or 2.53% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.96%, an increase of 33.19%. Total shares owned by institutions increased in the last three months by 12.98% to 135,328K shares. The put/call ratio of COIN is 1.37, indicating a bearish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 11,776K shares representing 5.02% ownership of the company. In it’s prior filing, the firm reported owning 9,189K shares, representing an increase of 21.97%. The firm increased its portfolio allocation in COIN by 94.05% over the last quarter.
AH Equity Partners III, L.L.C. holds 10,864K shares representing 4.63% ownership of the company. No change in the last quarter.
Sumitomo Mitsui Trust Holdings holds 8,611K shares representing 3.67% ownership of the company. In it’s prior filing, the firm reported owning 7,310K shares, representing an increase of 15.10%. The firm increased its portfolio allocation in COIN by 111.63% over the last quarter.
Nikko Asset Management Americas holds 8,299K shares representing 3.54% ownership of the company. In it’s prior filing, the firm reported owning 7,000K shares, representing an increase of 15.65%. The firm increased its portfolio allocation in COIN by 77.16% over the last quarter.
ARKK – ARK Innovation ETF holds 5,940K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 4,842K shares, representing an increase of 18.48%. The firm increased its portfolio allocation in COIN by 8.42% over the last quarter.
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.
See all Coinbase Global Inc – regulatory filings.
This article originally appeared on Fintel
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