Coinbase Global Inc. [COIN] Revenue clocked in at $3.19 billion, up 51.00% YTD: What’s Next?

Coinbase Global Inc. [NASDAQ: COIN] loss -8.00% or -4.65 points to close at $53.44 with a heavy trading volume of 25669158 shares. The company report on March 1, 2023 that Coinbase to Participate in the Morgan Stanley Technology, Media and Telecom Conference.

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Coinbase Global, Inc. announced today that Brian Armstrong, Co-Founder and CEO, and Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Morgan Stanley Technology, Media and Telecom Conference on Wednesday, March 8, 2023 at 1:30 p.m. PT / 4:30 p.m. ET.

A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at

It opened the trading session at $56.39, the shares rose to $56.41 and dropped to $51.57, the range by which the price of stock traded the whole day. The daily chart for COIN points out that the company has recorded -26.87% loss over the past six months. However, it is still -69.38% lower than its most recent low trading price.

If we look at the average trading volume of 17.71M shares, COIN reached to a volume of 25669158 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 6.22, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 4.21. The Price to Book ratio for the last quarter was 2.22, with the Price to Cash per share for the same quarter was set at 17.59.

Trading performance analysis for COIN stock

Coinbase Global Inc. [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.16. With this latest performance, COIN shares dropped by -23.04% in over the last four-week period, additionally sinking by -26.87% over the last 6 months – not to mention a drop of -70.14% 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 40.62, with the RSI for the last a single of trading hit 32.41, and the three-weeks RSI is set at 45.01 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 55.87, while it was recorded at 59.84 for the last single week of trading, and 60.34 for the last 200 days.

Coinbase Global Inc. [COIN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Coinbase Global Inc. [COIN] shares currently have an operating margin of -61.02 and a Gross Margin at +80.28. Coinbase Global Inc.’s Net Margin is presently recorded at -82.18.

Return on Equity for this stock declined to -44.35, with Return on Assets sitting at -4.73.

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.

An analysis of insider ownership at Coinbase Global Inc. [COIN]

There are presently around $6,055 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 $580.59 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $491.07 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 274 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 15,416,056 shares. Additionally, 331 investors decreased positions by around 8,801,168 shares, while 118 investors held positions by with 89,089,010 shares. The mentioned changes placed institutional holdings at 113,306,234 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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