Coinbase Global Inc. [NASDAQ: COIN] stock went on a downward path that fall over -2.74% on Wednesday, amounting to a one-week price decrease of less than -1.82%. The company report on April 19, 2022 that Coinbase Announces Date of First Quarter 2022 Financial Results.
Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its first quarter 2022 shareholder letter, including financial results, on its Investor Relations website at investor.coinbase.com on Tuesday, May 10, 2022, after market close. The Company will hold a question and answer session to discuss its financial results at 2:30 p.m. PT that same day.
Starting on May 3 at 9:00 a.m. PT, all shareholders will be able to submit and upvote questions for Coinbase management by visiting here. This Q&A platform will remain open until 24 hours before the earnings call. Shareholders can email email@example.com for any support inquiries.
Over the last 12 months, COIN stock dropped by -52.83%. The one-year Coinbase Global Inc. stock forecast points to a potential upside of 50.02. The average equity rating for COIN stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $33.94 billion, with 214.14 million shares outstanding and 167.55 million shares in the current float. Compared to the average trading volume of 4.82M shares, COIN stock reached a trading volume of 3442189 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $294.40 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.
Piper Sandler have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 25, 2022. While these analysts kept the previous recommendation, Oppenheimer dropped their target price from $444 to $377. The new note on the price target was released on February 25, 2022, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another drop from $420 to $360, while Needham kept a Buy rating on COIN stock. On February 25, 2022, analysts decreased their price target for COIN shares from 345 to 296.
The Average True Range (ATR) for Coinbase Global Inc. is set at 10.34, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 4.33. The Price to Book ratio for the last quarter was 4.94, with the Price to Cash per share for the same quarter was set at 30.88. Price to Free Cash Flow for COIN in the course of the last twelve months was 3.16 with Quick ratio for the last quarter at 1.60.
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 -1.82. With this latest performance, COIN shares dropped by -16.79% in over the last four-week period, additionally sinking by -51.86% over the last 6 months – not to mention a drop of -52.83% in the past year of trading.
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 36.90, with the RSI for the last a single of trading hit 33.40, and the three-weeks RSI is set at 39.11 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 178.83, while it was recorded at 149.13 for the last single week of trading, and 239.29 for the last 200 days.
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 +39.24 and a Gross Margin at +83.83. Coinbase Global Inc.’s Net Margin is presently recorded at +39.50.
Return on Equity for this stock inclined to 78.33, with Return on Assets sitting at 22.83.
Coinbase Global Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.
Coinbase Global Inc. [COIN] Insider Position Details
There are presently around $13,086 million, or 47.60% of COIN stock, in the hands of institutional investors. The top three institutional holders of COIN stocks are: AH EQUITY PARTNERS III, L.L.C. with ownership of 10,864,390, which is approximately 10418.744% of the company’s market cap and around 0.20% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 6,982,749 shares of the stock with an approximate value of $1.06 billion in COIN stocks shares; and VANGUARD GROUP INC, currently with $872.02 million in COIN stock with ownership of nearly 5.264% of the company’s market capitalization.
Positions in Coinbase Global Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 563 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 38,693,802 shares. Additionally, 319 investors decreased positions by around 8,470,767 shares, while 91 investors held positions by with 39,340,494 shares. The mentioned changes placed institutional holdings at 86,505,063 shares, according to the latest SEC report filing. COIN stock had 300 new institutional investments in for a total of 14,959,792 shares, while 130 institutional investors sold positions of 2,573,124 shares during the same period.