Coinbase Global Inc. [COIN] moved down -5.30: Why It’s Important


Coinbase Global Inc. [NASDAQ: COIN] loss -5.30% on the last trading session, reaching $67.07 price per share at the time. The company report on July 19, 2022 that Coinbase Announces Date of Second Quarter 2022 Financial Results.

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Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its second quarter 2022 shareholder letter, including financial results, on its Investor Relations website at on Tuesday, August 9, 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 August 2 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 for any support inquiries.

Coinbase Global Inc. represents 217.47 million in outstanding shares, while the company has a total market value of $15.55 billion with the latest information. COIN stock price has been found in the range of $66.30 to $69.9797.

If compared to the average trading volume of 15.24M shares, COIN reached a trading volume of 8727463 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 $117.82 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.

Atlantic Equities have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 06, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $70 to $45. The new note on the price target was released on June 27, 2022, representing the official price target for Coinbase Global Inc. stock. On June 15, 2022, analysts decreased their price target for COIN shares from 173 to 89.

The Average True Range (ATR) for Coinbase Global Inc. is set at 6.52, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 2.25, with the Price to Cash per share for the same quarter was set at 26.37.

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 14.32. With this latest performance, COIN shares gained by 13.91% in over the last four-week period, additionally sinking by -65.06% over the last 6 months – not to mention a drop of -70.18% 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 54.53, with the RSI for the last a single of trading hit 57.94, and the three-weeks RSI is set at 50.38 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 61.27, while it was recorded at 70.59 for the last single week of trading, and 183.13 for the last 200 days.

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 +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.

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

There are presently around $5,336 million, or 46.80% 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 0% of the company’s market cap and around 0.30% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 8,951,225 shares of the stock with an approximate value of $600.36 million in COIN stocks shares; and VANGUARD GROUP INC, currently with $404.11 million in COIN stock with ownership of nearly 4.52% of the company’s market capitalization.

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 437 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 10,255,594 shares. Additionally, 429 investors decreased positions by around 17,092,105 shares, while 131 investors held positions by with 52,207,112 shares. The mentioned changes placed institutional holdings at 79,554,811 shares, according to the latest SEC report filing. COIN stock had 150 new institutional investments in for a total of 2,955,345 shares, while 247 institutional investors sold positions of 8,073,357 shares during the same period.