Coinbase Global Inc. [COIN] Revenue clocked in at $2.89 billion, down -22.66% YTD: What’s Next?

Coinbase Global Inc. [NASDAQ: COIN] gained 3.93% or 9.59 points to close at $253.88 with a heavy trading volume of 4442029 shares. The company report on July 8, 2021 that Tetra Trust Launches as Canada’s First Qualified Custodian for Cryptocurrency Assets and Closes Financings Led by Consortium of Strategic Investors.

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The financial institution received its Certificate of Registration on July 5, 2021, making it the first Canadian regulated custodian for cryptocurrency assets. Tetra Trust also completed multiple financing rounds led by a group of strategic investors which includes Coinbase Ventures, Mogo, Canadian Securities Exchange and Coinsquare, among others.

Tetra Trust Company (“Tetra Trust”), a regulated financial institution, is pleased to announce that it has launched as Canada’s first qualified custodian for cryptocurrency assets. Tetra Trust received its Certificate of Registration from the Government of Alberta on July 5, 2021 and qualified to act as a custodian under National Instrument 31-103 Registration Requirements, Exemptions, and Ongoing Registrant Obligations and National Instrument 81-102 Investment Funds.

If we look at the average trading volume of 8.38M shares, COIN reached to a volume of 4442029 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Coinbase Global Inc. [COIN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COIN shares is $388.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COIN stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 07, 2021. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on June 16, 2021, representing the official price target for Coinbase Global Inc. stock.

The Average True Range (ATR) for Coinbase Global Inc. is set at 11.19, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 17.65.

Trading performance analysis for COIN stock

Coinbase Global Inc. [COIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.15.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COIN stock in for the last two-week period is set at 56.08, with the RSI for the last a single of trading hit 60.44, and the three-weeks RSI is set at 51.74 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 245.97, while it was recorded at 245.25 for the last single week of trading.

Coinbase Global Inc. [COIN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Coinbase Global Inc. [COIN] shares currently have an operating margin of +32.01 and a Gross Margin at +89.39. Coinbase Global Inc.’s Net Margin is presently recorded at +8.47.

Return on Total Capital for COIN is now 28.94, given the latest momentum, and Return on Invested Capital for the company is 7.80. Return on Equity for this stock inclined to 8.37, with Return on Assets sitting at 2.63. When it comes to the capital structure of this company, Coinbase Global Inc. [COIN] has a Total Debt to Total Equity ratio set at 7.06. Additionally, COIN Total Debt to Total Capital is recorded at 6.60, with Total Debt to Total Assets ending up at 1.84. Long-Term Debt to Equity for the company is recorded at 8.56, with the Long-Term Debt to Total Capital now at 5.05.

Reflecting on the efficiency of the workforce at the company, Coinbase Global Inc. [COIN] managed to generate an average of $86,674 per employee. Receivables Turnover for the company is 9.09 with a Total Asset Turnover recorded at a value of 0.31.Coinbase Global Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

An analysis of insider ownership at Coinbase Global Inc. [COIN]

There are presently around $2 million, or 15.90% of COIN stock, in the hands of institutional investors. The top three institutional holders of COIN stocks are: CAMPBELL CAPITAL MANAGEMENT INC with ownership of 2,500, which is approximately New of the company’s market cap and around 0.30% of the total institutional ownership; ADVISER INVESTMENTS LLC, holding 1,379 shares of the stock with an approximate value of $0.35 million in COIN stocks shares; and GRASSI INVESTMENT MANAGEMENT, currently with $0.31 million in COIN stock with ownership of nearly New of the company’s market capitalization.

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Positions in Coinbase Global Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 9 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 7,278 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 7,278 shares, according to the latest SEC report filing. COIN stock had 9 new institutional investments in for a total of 7,278 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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