Coinbase Global Inc [NASDAQ: COIN] stock went on a downward path that fall over -9.22% on Monday, amounting to a one-week price decrease of less than -11.68%. The company report on January 24, 2024 at 4:14 PM that Coinbase Announces Date of Fourth Quarter and Full Year 2023 Financial Results.
Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its fourth quarter and full year 2023 shareholder letter, including financial results, on its Investor Relations website at investor.coinbase.com on Thursday, February 15, 2024, 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.
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Starting on February 8 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 support@saytechnologies.com for any support inquiries.
Over the last 12 months, COIN stock rose by 44.00%. The one-year Coinbase Global Inc stock forecast points to a potential upside of 8.49. The average equity rating for COIN stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $28.06 billion, with 182.80 million shares outstanding and 168.34 million shares in the current float. Compared to the average trading volume of 13.28M shares, COIN stock reached a trading volume of 13009609 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 $128.18 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 3.00. 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.
JP Morgan have made an estimate for Coinbase Global Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 23, 2024.
The Average True Range (ATR) for Coinbase Global Inc is set at 9.22, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 10.08. The Price to Book ratio for the last quarter was 4.74, 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 6.65.
COIN Stock Performance Analysis:
Coinbase Global Inc [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.68. With this latest performance, COIN shares dropped by -24.61% in over the last four-week period, additionally plugging by 34.35% over the last 6 months – not to mention a rise of 44.00% 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 36.03, with the RSI for the last a single of trading hit 30.52, and the three-weeks RSI is set at 40.74 for Coinbase Global Inc [COIN]. The present Moving Average for the last 50 days of trading for this stock 141.65, while it was recorded at 126.90 for the last single week of trading, and 91.77 for the last 200 days.
COIN Stock EPS
With the latest financial reports released by the company, Coinbase Global Inc posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COIN.
Coinbase Global Inc [COIN] Institutonal Ownership Details
The top three institutional holders of COIN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COIN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COIN stock with ownership which is approximately 5.8325%.
