Coinbase Global Inc. [COIN] fell -75.16% so far this year. What now?


Coinbase Global Inc. [NASDAQ: COIN] traded at a low on 08/01/22, posting a -0.41 loss after which it closed the day’ session at $62.70. 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.

The results of the trading session contributed to over 7307606 shares changing hands. Over the past one week, the price volatility of Coinbase Global Inc. stands at 12.27% while the volatility over the past one month is 11.28%.

The market cap for COIN stock reached $13.01 billion, with 217.47 million shares outstanding and 170.49 million shares in the current float. Compared to the average trading volume of 16.05M shares, COIN reached a trading volume of 7307606 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $113.23 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 6.77, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 1.81. The Price to Book ratio for the last quarter was 2.10, with the Price to Cash per share for the same quarter was set at 29.48.

How has COIN stock performed recently?

Coinbase Global Inc. [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.52. With this latest performance, COIN shares gained by 33.35% in over the last four-week period, additionally sinking by -64.69% over the last 6 months – not to mention a drop of -73.50% 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 50.92, with the RSI for the last a single of trading hit 52.01, and the three-weeks RSI is set at 48.59 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 60.84, while it was recorded at 59.93 for the last single week of trading, and 178.37 for the last 200 days.

Coinbase Global Inc. [COIN]: Deeper insight into the 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.

Insider trade positions for Coinbase Global Inc. [COIN]

There are presently around $5,469 million, or 50.90% 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 $561.24 million in COIN stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $435.05 million in COIN stock with ownership of nearly New 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 444 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 17,824,126 shares. Additionally, 411 investors decreased positions by around 12,280,070 shares, while 127 investors held positions by with 57,122,194 shares. The mentioned changes placed institutional holdings at 87,226,390 shares, according to the latest SEC report filing. COIN stock had 157 new institutional investments in for a total of 10,069,511 shares, while 232 institutional investors sold positions of 3,381,249 shares during the same period.