Fintel reports that on October 4, 2023, Mizuho reiterated coverage of Coinbase Global Inc - (NASDAQ:COIN) with a Underperform recommendation.
Analyst Price Forecast Suggests 28.87% Upside
As of August 31, 2023, the average one-year price target for Coinbase Global Inc - is 93.40. The forecasts range from a low of 27.27 to a high of $210.00. The average price target represents an increase of 28.87% from its latest reported closing price of 72.48.
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The projected annual revenue for Coinbase Global Inc - is 3,421MM, an increase of 32.59%. The projected annual non-GAAP EPS is -5.96.
What is the Fund Sentiment?
There are 920 funds or institutions reporting positions in Coinbase Global Inc -. This is a decrease of 9 owner(s) or 0.97% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.68%, a decrease of 0.59%. Total shares owned by institutions increased in the last three months by 1.11% to 122,809K shares. 
The put/call ratio of COIN is 1.00, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 12,122K shares representing 5.11% ownership of the company. In it's 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.
Sumitomo Mitsui Trust Holdings holds 9,166K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 8,611K shares, representing an increase of 6.06%. The firm increased its portfolio allocation in COIN by 17.90% over the last quarter.
Nikko Asset Management Americas holds 8,782K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 8,299K shares, representing an increase of 5.50%. The firm increased its portfolio allocation in COIN by 4.65% over the last quarter.
ARKK - ARK Innovation ETF holds 7,601K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 7,685K shares, representing a decrease of 1.10%. The firm increased its portfolio allocation in COIN by 30.97% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,682K shares representing 1.97% ownership of the company. In it's prior filing, the firm reported owning 4,545K shares, representing an increase of 2.92%. The firm increased its portfolio allocation in COIN by 0.64% 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.
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This story originally appeared on Fintel.
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