Coinbase Global Inc. [COIN] Revenue clocked in at $5.06 billion, down -81.11% YTD: What’s Next?

Coinbase Global Inc. [NASDAQ: COIN] traded at a high on 12/02/22, posting a 5.30 gain after which it closed the day’ session at $47.67. The company report on November 22, 2022 that 3iQ, Coinbase Custody and Tetra Trust Complete Custodianship Transition.

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Coinbase and Tetra now serve as custodians for the full range of 3iQ’s digital asset offerings .

3iQ Digital Asset Management (3iQ) together with Coinbase and Tetra Trust Company (“Tetra Trust” or “Tetra”) are pleased to announce they have finalized the custodian transition for 3iQ’s exchange-traded products (ETPs). In September, the industry leaders had announced their joining of forces to advance the digital asset ETP space in Canada.

The results of the trading session contributed to over 10316078 shares changing hands. Over the past one week, the price volatility of Coinbase Global Inc. stands at 7.44% while the volatility over the past one month is 10.41%.

The market cap for COIN stock reached $10.27 billion, with 223.92 million shares outstanding and 175.62 million shares in the current float. Compared to the average trading volume of 14.09M shares, COIN reached a trading volume of 10316078 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 $76.72 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 2.00. 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.

BofA Securities have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 18, 2022. While these analysts kept the previous recommendation, Daiwa Securities dropped their target price from $82 to $52. The new note on the price target was released on November 09, 2022, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another raise to $57, while Wells Fargo analysts kept a Underweight rating on COIN stock.

The Average True Range (ATR) for Coinbase Global Inc. is set at 4.99, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 23.23.

How has COIN stock performed recently?

Coinbase Global Inc. [COIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.66. With this latest performance, COIN shares dropped by -21.48% in over the last four-week period, additionally sinking by -28.52% over the last 6 months – not to mention a drop of -83.26% 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 44.34, with the RSI for the last a single of trading hit 48.22, and the three-weeks RSI is set at 43.44 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 59.62, while it was recorded at 44.86 for the last single week of trading, and 91.89 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 $5,069 million, or 59.30% of COIN stock, in the hands of institutional investors. The top three institutional holders of COIN stocks are: VANGUARD GROUP INC with ownership of 12,786,266, which is approximately 19.766% of the company’s market cap and around 0.20% of the total institutional ownership; AH EQUITY PARTNERS III, L.L.C., holding 10,864,390 shares of the stock with an approximate value of $517.9 million in COIN stocks shares; and BLACKROCK INC., currently with $380.47 million in COIN stock with ownership of nearly 34.058% 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 267 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 11,930,660 shares. Additionally, 294 investors decreased positions by around 14,112,650 shares, while 152 investors held positions by with 80,297,043 shares. The mentioned changes placed institutional holdings at 106,340,353 shares, according to the latest SEC report filing. COIN stock had 91 new institutional investments in for a total of 1,684,401 shares, while 90 institutional investors sold positions of 2,093,550 shares during the same period.

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