Coinbase Global Inc. [COIN] gain 110.88% so far this year. What now?

Coinbase Global Inc. [NASDAQ: COIN] stock went on a downward path that fall over -8.38% on Friday, amounting to a one-week price increase of more than 21.61%. The company report on January 24, 2023 that Coinbase Announces Date of Fourth Quarter and Full Year 2022 Financial Results.

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Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its fourth quarter and full year 2022 shareholder letter, including financial results, on its Investor Relations website at on Tuesday, February 21, 2023, 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 February 14 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.

Over the last 12 months, COIN stock dropped by -60.17%. The one-year Coinbase Global Inc. stock forecast points to a potential downside of -19.96. The average equity rating for COIN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $18.49 billion, with 223.92 million shares outstanding and 175.62 million shares in the current float. Compared to the average trading volume of 16.94M shares, COIN stock reached a trading volume of 37057162 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 $62.21 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 Underperform, with their previous recommendation back on January 11, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on January 09, 2023, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another raise to $36, while Cowen analysts kept a Market Perform rating on COIN stock.

The Average True Range (ATR) for Coinbase Global Inc. is set at 6.72, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 3.65. The Price to Book ratio for the last quarter was 2.97, with the Price to Cash per share for the same quarter was set at 20.21.

COIN Stock Performance Analysis:

Coinbase Global Inc. [COIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.61. With this latest performance, COIN shares gained by 97.96% in over the last four-week period, additionally sinking by -16.05% over the last 6 months – not to mention a drop of -60.17% 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 68.85, with the RSI for the last a single of trading hit 70.30, and the three-weeks RSI is set at 66.06 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 45.20, while it was recorded at 67.29 for the last single week of trading, and 64.60 for the last 200 days.

Insight into Coinbase Global Inc. Fundamentals:

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 $8,154 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 $810.81 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $685.79 million in COIN stock with ownership of nearly 19.076% of the company’s market capitalization.

263 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 15,217,481 shares. Additionally, 300 investors decreased positions by around 10,794,079 shares, while 136 investors held positions by with 83,244,337 shares. The mentioned changes placed institutional holdings at 109,255,897 shares, according to the latest SEC report filing. COIN stock had 87 new institutional investments in for a total of 1,656,623 shares, while 116 institutional investors sold positions of 2,463,587 shares during the same period.


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