Coinbase Global Inc. [COIN] stock Upgrade by BofA Securities analyst, price target now $340

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Coinbase Global Inc. [NASDAQ: COIN] price plunged by -3.15 percent to reach at -$7.32. The company report on November 30, 2021 that Coinbase to Participate in the Goldman Sachs U.S. Financial Services Conference.

Coinbase Global, Inc. announced today that Emilie Choi, President & Chief Operating Officer, will participate in a fireside chat at the Goldman Sachs U.S. Financial Services Conference on Tuesday, December 7, 2021 at 5:40 a.m. PT / 8:40 a.m. ET.


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A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.

A sum of 6735135 shares traded at recent session while its average daily volume was at 5.31M shares. Coinbase Global Inc. shares reached a high of $225.26 and dropped to a low of $214.64 until finishing in the latest session at $225.01.

The one-year COIN stock forecast points to a potential upside of 42.64. The average equity rating for COIN stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $392.25 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.

BofA Securities have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 06, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $360 to $440. The new note on the price target was released on November 10, 2021, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another raise from $330 to $405, while JMP Securities kept a Mkt Outperform rating on COIN stock. On November 10, 2021, analysts increased their price target for COIN shares from 337 to 387.

The Average True Range (ATR) for Coinbase Global Inc. is set at 15.38, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 8.23. The Price to Book ratio for the last quarter was 8.80, with the Price to Cash per share for the same quarter was set at 29.31. Price to Free Cash Flow for COIN in the course of the last twelve months was 4.38 with Quick ratio for the last quarter at 1.70.

COIN Stock Performance Analysis:

Coinbase Global Inc. [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.37. With this latest performance, COIN shares dropped by -14.74% in over the last four-week period, additionally sinking by -7.52% over the last 6 months .

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 32.88, with the RSI for the last a single of trading hit 27.60, and the three-weeks RSI is set at 36.45 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 290.02, while it was recorded at 235.14 for the last single week of trading.

Insight into Coinbase Global Inc. Fundamentals:

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 1.70 and a Current Ratio set at 1.70.

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Coinbase Global Inc. [COIN] Insider Position Details

There are presently around $12,981 million, or 35.30% of COIN stock, in the hands of institutional investors. The top three institutional holders of COIN stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 6,993,163, which is approximately 24.491% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 5,476,368 shares of the stock with an approximate value of $1.23 billion in COIN stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $1.07 billion in COIN stock with ownership of nearly 45.438% of the company’s market capitalization.

Positions in Coinbase Global Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 390 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 17,849,389 shares. Additionally, 224 investors decreased positions by around 3,771,515 shares, while 128 investors held positions by with 36,071,116 shares. The mentioned changes placed institutional holdings at 57,692,020 shares, according to the latest SEC report filing. COIN stock had 154 new institutional investments in for a total of 4,962,050 shares, while 89 institutional investors sold positions of 1,315,116 shares during the same period.