Coinbase Global Inc [NASDAQ: COIN] gained 7.12% on the last trading session, reaching $106.10 price per share at the time. The company report on November 2, 2023 at 4:13 PM that Coinbase Releases Third Quarter 2023 Shareholder Letter.
Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today the release of its third quarter 2023 shareholder letter. The letter, including the Company’s financial results, can be found on its Investor Relations website at investor.coinbase.com.
The Company will hold a question and answer session to discuss its third quarter 2023 financial results on Thursday, November 2, 2023 at 2:30 p.m. PT.
Coinbase Global Inc represents 182.80 million in outstanding shares, while the company has a total market value of $25.38 billion with the latest information. COIN stock price has been found in the range of $100.01 to $106.46.
If compared to the average trading volume of 8.23M shares, COIN reached a trading volume of 10938080 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 $86.24 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 2.93. 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.
Canaccord Genuity have made an estimate for Coinbase Global Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 01, 2023.
The Average True Range (ATR) for Coinbase Global Inc is set at 5.57, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 9.12. The Price to Book ratio for the last quarter was 4.29, with the Price to Cash per share for the same quarter was set at 23.11. Price to Free Cash Flow for COIN in the course of the last twelve months was 6.01.
Trading performance analysis for COIN stock
Coinbase Global Inc [COIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.53. With this latest performance, COIN shares gained by 42.11% in over the last four-week period, additionally plugging by 73.74% over the last 6 months – not to mention a rise of 117.46% 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 77.63, with the RSI for the last a single of trading hit 83.96, and the three-weeks RSI is set at 72.18 for Coinbase Global Inc [COIN]. The present Moving Average for the last 50 days of trading for this stock 80.44, while it was recorded at 98.46 for the last single week of trading, and 72.44 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 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.
An analysis of Institutional ownership at Coinbase Global Inc [COIN]
The top three institutional holders of COIN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in COIN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in COIN stock with ownership which is approximately 5.7994%.