Coinbase Global (COIN) Gets a Buy Rating from BTIG

BTIG analyst Mark Palmer reiterated a Buy rating on Coinbase Global (COINResearch Report) yesterday and set a price target of $500.00. The company’s shares closed last Monday at $293.45.

According to TipRanks.com, Palmer is a 5-star analyst with an average return of 19.9% and a 62.6% success rate. Palmer covers the Financial sector, focusing on stocks such as International Money Express, Oportun Financial, and Western Union.

Currently, the analyst consensus on Coinbase Global is a Moderate Buy with an average price target of $435.33, implying a 63.4% upside from current levels. In a report released yesterday, 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.