Coinbase Global Inc. [COIN] moved down -8.19: Why It’s Important

Coinbase Global Inc. [NASDAQ: COIN] closed the trading session at $63.59 on 10/14/22. The day’s price range saw the stock hit a low of $63.38, while the highest price level was $73.79. The company report on October 10, 2022 that Coinbase Announces Date of Third Quarter 2022 Financial Results.

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Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its third quarter 2022 shareholder letter, including financial results, on its Investor Relations website at on Thursday, November 3, 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 October 27 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 stocks have a year to date performance of -74.80 percent and weekly performance of -5.09 percent. The stock has been moved at -56.83 percent over the last six months. The stock has performed -17.66 percent around the most recent 30 days and changed 8.39 percent over the most recent 3-months.

If compared to the average trading volume of 13.55M shares, COIN reached to a volume of 13682189 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $96.62 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 2.40. 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.

Wells Fargo have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 29, 2022. The new note on the price target was released on September 09, 2022, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another raise to $80, while Barclays analysts kept a Equal Weight rating on COIN stock.

The Average True Range (ATR) for Coinbase Global Inc. is set at 6.40, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 2.70. The Price to Book ratio for the last quarter was 2.42, with the Price to Cash per share for the same quarter was set at 23.17.

COIN stock trade performance evaluation

Coinbase Global Inc. [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.09. With this latest performance, COIN shares dropped by -17.66% in over the last four-week period, additionally sinking by -56.83% over the last 6 months – not to mention a drop of -75.54% 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 42.85, with the RSI for the last a single of trading hit 39.28, and the three-weeks RSI is set at 44.82 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 73.45, while it was recorded at 68.00 for the last single week of trading, and 118.44 for the last 200 days.

Coinbase Global Inc. [COIN]: An insightful look at the core 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 Ownership positions

There are presently around $6,858 million, or 60.10% 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 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 10,676,070 shares of the stock with an approximate value of $678.89 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $569.21 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 November and at the time of the November reporting period, where 360 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 42,986,600 shares. Additionally, 426 investors decreased positions by around 13,063,378 shares, while 115 investors held positions by with 51,800,231 shares. The mentioned changes placed institutional holdings at 107,850,209 shares, according to the latest SEC report filing. COIN stock had 138 new institutional investments in for a total of 10,043,318 shares, while 280 institutional investors sold positions of 5,836,958 shares during the same period.


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