Coinbase Global Inc. [COIN] moved up 5.41: Why It’s Important

Coinbase Global Inc. [NASDAQ: COIN] traded at a high on 11/04/22, posting a 5.41 gain after which it closed the day’ session at $58.82. The company report on November 3, 2022 that Coinbase Releases Third Quarter 2022 Shareholder Letter.


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Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today the release of its third 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 third quarter 2022 financial results on Thursday, November 3, 2022 at 2:30 p.m. PT.

The results of the trading session contributed to over 18740751 shares changing hands. Over the past one week, the price volatility of Coinbase Global Inc. stands at 11.22% while the volatility over the past one month is 9.53%.

The market cap for COIN stock reached $13.86 billion, with 220.99 million shares outstanding and 173.59 million shares in the current float. Compared to the average trading volume of 12.26M shares, COIN reached a trading volume of 18740751 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 $85.84 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 6.33, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 2.40. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 24.11.

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 -18.38. With this latest performance, COIN shares dropped by -20.42% in over the last four-week period, additionally sinking by -43.30% over the last 6 months – not to mention a drop of -82.92% 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 40.18, with the RSI for the last a single of trading hit 36.63, and the three-weeks RSI is set at 42.58 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 68.15, while it was recorded at 60.97 for the last single week of trading, and 105.76 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 1.10 and a Current Ratio set at 1.10.

Insider trade positions for Coinbase Global Inc. [COIN]

There are presently around $6,199 million, or 58.50% 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 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 10,676,070 shares of the stock with an approximate value of $627.97 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $453.92 million in COIN stock with ownership of nearly -13.787% 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 324 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 33,501,001 shares. Additionally, 385 investors decreased positions by around 14,991,647 shares, while 133 investors held positions by with 56,888,596 shares. The mentioned changes placed institutional holdings at 105,381,244 shares, according to the latest SEC report filing. COIN stock had 115 new institutional investments in for a total of 2,653,400 shares, while 221 institutional investors sold positions of 5,565,300 shares during the same period.

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