Wall Street Analyst Reiterated Coinbase Global Inc. [COIN]. What else is Wall St. saying

Coinbase Global Inc. [NASDAQ: COIN] plunged by -$3.92 during the normal trading session on Friday and reaching a high of $61.59 during the day while it closed the day at $58.44. The company report on February 21, 2023 that Coinbase Releases Fourth Quarter and Full Year 2022 Shareholder Letter.

Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today the release of its fourth quarter and full year 2022 shareholder letter. The letter, including the Company’s financial results, can be found on its Investor Relations website at investor.coinbase.com.

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The Company will hold a question and answer session to discuss its fourth quarter and full year 2022 financial results on Tuesday, February 21, 2023 at 2:30 p.m. PT.

Coinbase Global Inc. stock has also loss -10.90% of its value over the past 7 days. However, COIN stock has inclined by 34.69% in the 3 months of the year. Over the past six months meanwhile, it has lost -18.24% and gained 65.13% year-on date.

The market cap for COIN stock reached $14.43 billion, with 226.81 million shares outstanding and 175.62 million shares in the current float. Compared to the average trading volume of 16.45M shares, COIN reached a trading volume of 14499446 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 $65.71 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.

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 February 22, 2023. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $65 to $70. The new note on the price target was released on February 22, 2023, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another raise from $72 to $84, while Oppenheimer kept a Outperform rating on COIN stock. On February 22, 2023, analysts increased their price target for COIN shares from 52 to 57.

The Average True Range (ATR) for Coinbase Global Inc. is set at 6.79, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 4.52. The Price to Book ratio for the last quarter was 2.43, with the Price to Cash per share for the same quarter was set at 17.91.

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 -10.90. With this latest performance, COIN shares gained by 10.77% in over the last four-week period, additionally sinking by -18.24% over the last 6 months – not to mention a drop of -66.17% 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 48.57, with the RSI for the last a single of trading hit 43.87, and the three-weeks RSI is set at 50.66 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 50.78, while it was recorded at 61.85 for the last single week of trading, and 60.50 for the last 200 days.

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

There are presently around $6,630 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 13,180,856, which is approximately 3.086% 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 $634.91 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $537.02 million in COIN stock with ownership of nearly 19.076% of the company’s market capitalization.

Positions in Coinbase Global Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 275 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 15,587,454 shares. Additionally, 330 investors decreased positions by around 8,653,082 shares, while 118 investors held positions by with 89,214,034 shares. The mentioned changes placed institutional holdings at 113,454,570 shares, according to the latest SEC report filing. COIN stock had 110 new institutional investments in for a total of 4,230,318 shares, while 147 institutional investors sold positions of 2,663,993 shares during the same period.


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