Coinbase Global Inc. [NASDAQ: COIN] jumped around 0.66 points on Thursday, while shares priced at $61.44 at the close of the session, up 1.09%. The company report on March 20, 2023 that FINANCIAL TECHNOLOGY PARTNERS FORMALLY LAUNCHES THE ONLY PURE FINTECH EQUITY RESEARCH PLATFORM – WITH INITIAL COVERAGE OF 25 PUBLIC FINTECH COMPANIES.
LAUNCH COVERAGE: ENXTAM:ADYEN, NASDAQ:AFRM, NYSE:AXP, NASDAQ:AVDX, NYSE:BILL, NYSE:SQ, NASDAQ:COIN, NASDAQ:EXFY, NASDAQ:FLYW, NASDAQ:GLBE, NYSE:LMND, NASDAQ:MQ, NYSE:MA, NYSE:NU, NYSE:PAGS, NYSE:PAY, NASDAQ:PYPL, NASDAQ:RELY, NASDAQ:HOOD, NYSE:SHOP, NASDAQ:SOFI, NYSE:TOST, NASDAQ:UPST, NYSE:V, LSE:WISE.
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Coinbase Global Inc. stock is now 73.61% up from its year-to-date (YTD) trading value. COIN Stock saw the intraday high of $62.74 and lowest of $58.20 per share. The company’s 52-week high price is 174.32, which means current price is +94.74% above from all time high which was touched on 02/03/23.
Compared to the average trading volume of 20.30M shares, COIN reached a trading volume of 11850751 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 $72.68 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.
TD Cowen have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on March 24, 2023. The new note on the price target was released on March 23, 2023, representing the official price target for Coinbase Global Inc. stock. Previously, the target price had yet another raise from $34 to $40, while Wells Fargo kept a Underweight rating on COIN stock. On February 22, 2023, analysts increased their price target for COIN shares from 65 to 70.
The Average True Range (ATR) for Coinbase Global Inc. is set at 5.99, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 4.40. The Price to Book ratio for the last quarter was 2.55, with the Price to Cash per share for the same quarter was set at 19.32.
How has COIN stock performed recently?
Coinbase Global Inc. [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.24. With this latest performance, COIN shares dropped by -2.49% in over the last four-week period, additionally sinking by -15.80% over the last 6 months – not to mention a drop of -65.32% 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 46.14, with the RSI for the last a single of trading hit 42.69, and the three-weeks RSI is set at 48.29 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 64.58, while it was recorded at 63.19 for the last single week of trading, and 60.63 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 -61.02 and a Gross Margin at +80.28. Coinbase Global Inc.’s Net Margin is presently recorded at -82.18.
Return on Total Capital for COIN is now -20.69, given the latest momentum, and Return on Invested Capital for the company is -28.03. Return on Equity for this stock declined to -44.35, with Return on Assets sitting at -4.73. When it comes to the capital structure of this company, Coinbase Global Inc. [COIN] has a Total Debt to Total Equity ratio set at 64.47. Additionally, COIN Total Debt to Total Capital is recorded at 39.20, with Total Debt to Total Assets ending up at 3.92. Long-Term Debt to Equity for the company is recorded at 62.98, with the Long-Term Debt to Total Capital now at 38.29.
Reflecting on the efficiency of the workforce at the company, Coinbase Global Inc. [COIN] managed to generate an average of -$582,029 per employee. Receivables Turnover for the company is 6.93 with a Total Asset Turnover recorded at a value of 0.06.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 $6,943 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 $667.51 million in COIN stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $564.59 million in COIN stock with ownership of nearly 19.076% of the company’s market capitalization.
267 institutional holders increased their position in Coinbase Global Inc. [NASDAQ:COIN] by around 15,423,767 shares. Additionally, 323 investors decreased positions by around 8,783,440 shares, while 118 investors held positions by with 88,793,717 shares. The mentioned changes placed institutional holdings at 113,000,924 shares, according to the latest SEC report filing. COIN stock had 105 new institutional investments in for a total of 4,242,108 shares, while 140 institutional investors sold positions of 2,645,095 shares during the same period.