After D.A. Davidson and BTIG gave Coinbase Global (NASDAQ: COIN) a Buy rating last month, the company received another Buy, this time from Rosenblatt Securities. Analyst Sean Horgan maintained a Buy rating on Coinbase Global today and set a price target of $400.00. The company’s shares closed last Thursday at $265.10, close to its 52-week low of $250.51.
According to TipRanks.com, Horgan is a 3-star analyst with an average return of 3.1% and a 50.8% success rate. Horgan covers the Technology sector, focusing on stocks such as Fidelity National Info, Tradeweb Markets, and Paypal Holdings.
Currently, the analyst consensus on Coinbase Global is a Moderate Buy with an average price target of $419.30, which is a 51.7% upside from current levels. In a report issued on May 10, Oppenheimer also initiated coverage with a Buy rating on the stock with a $434.00 price target.
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Based on the recent corporate insider activity of 48 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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