Fintel reports that on July 23, 2024, Citigroup upgraded their outlook for Coinbase Global (NasdaqGS:COIN) from Neutral to Buy.
Analyst Price Forecast Suggests 4.29% Upside
As of July 23, 2024, the average one-year price target for Coinbase Global is $268.68/share. The forecasts range from a low of $146.45 to a high of $472.50. The average price target represents an increase of 4.29% from its latest reported closing price of $257.63 / share.
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The projected annual revenue for Coinbase Global is 4,140MM, an increase of 9.59%. The projected annual non-GAAP EPS is -2.77.
What is the Fund Sentiment?
There are 1,321 funds or institutions reporting positions in Coinbase Global. This is an increase of 129 owner(s) or 10.82% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.83%, an increase of 24.41%. Total shares owned by institutions increased in the last three months by 2.16% to 115,252K shares. 
The put/call ratio of COIN is 0.62, indicating a bullish outlook.
What are Other Shareholders Doing?
Conrad N. Hilton Foundation holds 6,038K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 64K shares , representing an increase of 98.94%. The firm decreased its portfolio allocation in COIN by 91.51% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,842K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 4,824K shares , representing an increase of 17.42%. The firm increased its portfolio allocation in COIN by 68.29% over the last quarter.
Paradigm Operations holds 4,516K shares representing 1.84% ownership of the company. No change in the last quarter.
ARK Investment Management holds 4,421K shares representing 1.80% ownership of the company. In its prior filing, the firm reported owning 8,600K shares , representing a decrease of 94.52%. The firm decreased its portfolio allocation in COIN by 8.35% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,636K shares representing 1.48% ownership of the company. In its prior filing, the firm reported owning 3,043K shares , representing an increase of 16.31%. The firm increased its portfolio allocation in COIN by 70.04% 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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