Coinbase Global Inc. [NASDAQ: COIN] stock went on a downward path that fall over -11.27% on Friday, amounting to a one-week price decrease of less than -18.16%. The company report on August 9, 2022 that Coinbase Releases Second Quarter 2022 Shareholder Letter.
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Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today the release of its second quarter 2022 shareholder letter. The letter, including the Company’s financial results, can be found on its Investor Relations website at investor.coinbase.com.
The Company will hold a question and answer session to discuss its second quarter 2022 financial results on Tuesday, August 9, 2022 at 2:30 p.m. PT.
Over the last 12 months, COIN stock dropped by -70.17%. The one-year Coinbase Global Inc. stock forecast points to a potential upside of 31.07. The average equity rating for COIN stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $18.79 billion, with 220.99 million shares outstanding and 173.62 million shares in the current float. Compared to the average trading volume of 15.30M shares, COIN stock reached a trading volume of 13612796 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 $107.45 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 2.30. 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.
Keefe Bruyette have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 10, 2022. While these analysts kept the previous recommendation, Daiwa Securities dropped their target price from $200 to $100. The new note on the price target was released on August 08, 2022, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another drop from $95 to $54, while Atlantic Equities kept a Neutral rating on COIN stock. On June 27, 2022, analysts decreased their price target for COIN shares from 70 to 45.
The Average True Range (ATR) for Coinbase Global Inc. is set at 9.43, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 3.25. The Price to Book ratio for the last quarter was 2.81, with the Price to Cash per share for the same quarter was set at 22.39.
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 -18.16. With this latest performance, COIN shares gained by 0.11% in over the last four-week period, additionally sinking by -61.41% over the last 6 months – not to mention a drop of -70.17% 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 47.47, with the RSI for the last a single of trading hit 41.74, and the three-weeks RSI is set at 49.05 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 65.63, while it was recorded at 85.07 for the last single week of trading, and 162.83 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 1.10 and a Current Ratio set at 1.10.
Coinbase Global Inc. [COIN] Insider Position Details
There are presently around $7,995 million, or 59.50% 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 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 10,676,070 shares of the stock with an approximate value of $790.67 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $662.93 million in COIN stock with ownership of nearly 28.191% 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 381 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 43,414,717 shares. Additionally, 426 investors decreased positions by around 12,658,205 shares, while 113 investors held positions by with 51,884,291 shares. The mentioned changes placed institutional holdings at 107,957,213 shares, according to the latest SEC report filing. COIN stock had 148 new institutional investments in for a total of 10,063,521 shares, while 289 institutional investors sold positions of 5,832,068 shares during the same period.