Coinbase Global Inc. [COIN] is -85.94% lower this YTD. Is it still time to buy?

Coinbase Global Inc. [NASDAQ: COIN] price surged by 2.60 percent to reach at $0.9. 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.

A sum of 8206089 shares traded at recent session while its average daily volume was at 14.26M shares. Coinbase Global Inc. shares reached a high of $35.98 and dropped to a low of $33.67 until finishing in the latest session at $35.49.

The one-year COIN stock forecast points to a potential upside of 51.99. The average equity rating for COIN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 $73.92 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.

KeyBanc Capital Markets have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on December 12, 2022. While these analysts kept the previous recommendation, Mizuho dropped their target price from $42 to $30. The new note on the price target was released on December 09, 2022, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another drop from $77 to $50, while BofA Securities kept a Neutral rating on COIN stock. On November 09, 2022, analysts decreased their price target for COIN shares from 82 to 52.

The Average True Range (ATR) for Coinbase Global Inc. is set at 3.30, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 1.55. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 22.63.

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 -3.03. With this latest performance, COIN shares dropped by -22.12% in over the last four-week period, additionally sinking by -36.58% over the last 6 months – not to mention a drop of -86.76% 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 35.74, with the RSI for the last a single of trading hit 34.52, and the three-weeks RSI is set at 37.26 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 51.07, while it was recorded at 35.07 for the last single week of trading, and 81.37 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 $3,774 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 $385.58 million in COIN stocks shares; and BLACKROCK INC., currently with $283.26 million in COIN stock with ownership of nearly 34.058% of the company’s market capitalization.

267 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 11,931,123 shares. Additionally, 291 investors decreased positions by around 14,021,361 shares, while 152 investors held positions by with 80,388,270 shares. The mentioned changes placed institutional holdings at 106,340,754 shares, according to the latest SEC report filing. COIN stock had 91 new institutional investments in for a total of 1,684,864 shares, while 88 institutional investors sold positions of 2,002,293 shares during the same period.


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