Fintel reports that on July 13, 2023, Barclays downgraded their outlook for Coinbase Global Inc – (COIN) from Equal-Weight to Underweight.<\/p>\n
Analyst Price Forecast Suggests 16.26% Downside<\/strong><\/p>\n As of July 5, 2023, the average one-year price target for Coinbase Global Inc – is 71.98. The forecasts range from a low of 27.27 to a high of $210.00. The average price target represents a decrease of 16.26% from its latest reported closing price of 85.95.<\/p>\n See our leaderboard of companies with the largest price target upside.<\/p>\n 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.<\/p>\n What is the Fund Sentiment?<\/strong><\/p>\n There are 932 funds or institutions reporting positions in Coinbase Global Inc -. This is an increase of 51 owner(s) or 5.79% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.69%, a decrease of 6.96%. Total shares owned by institutions decreased in the last three months by 3.11% to 121,727K shares. The put\/call ratio of COIN is 1.19, indicating a bearish outlook.<\/p>\n What are Other Shareholders Doing?<\/strong><\/p>\n \u00a0<\/p>\n ARK Investment Management holds 12,122K shares representing 5.17% ownership of the company. In its prior filing, the firm reported owning 11,776K shares, representing an increase of 2.85%. The firm increased its portfolio allocation in COIN by 5.00% over the last quarter.<\/p>\n Sumitomo Mitsui Trust Holdings holds 8,611K shares representing 3.67% ownership of the company. In its 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.<\/p>\n Nikko Asset Management Americas holds 8,299K shares representing 3.54% ownership of the company. In its 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.<\/p>\n ARKK – ARK Innovation ETF holds 7,685K shares representing 3.28% ownership of the company. In its prior filing, the firm reported owning 5,940K shares, representing an increase of 22.70%. The firm increased its portfolio allocation in COIN by 35.82% over the last quarter.<\/p>\n VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,545K shares representing 1.94% ownership of the company. In its prior filing, the firm reported owning 4,361K shares, representing an increase of 4.05%. The firm increased its portfolio allocation in COIN by 83.74% over the last quarter.<\/p>\n Coinbase Global Background Information<\/strong> Coinbase is building the cryptoeconomy \u2013 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.<\/p>\n Additional reading:<\/p>\n This article originally appeared on Fintel<\/i><\/p>\n Sponsored: Find a Qualified Financial Advisor<\/b><\/p>\n Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.<\/p>\n
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