Keefe Bruyette lifts Coinbase Global Inc [COIN] price estimate. Who else is bullish?

Coinbase Global Inc [NASDAQ: COIN] stock went on an upward path that rose over 8.84% on Friday, amounting to a one-week price increase of more than 26.99%. The company report on February 15, 2024 at 4:14 PM that Coinbase Releases Fourth Quarter and Full Year 2023 Shareholder Letter.

Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today the release of its fourth quarter and full year 2023 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 2023 financial results on Thursday, February 15, 2024 at 2:30 p.m. PT.

Over the last 12 months, COIN stock rose by 160.04%. The one-year Coinbase Global Inc stock forecast points to a potential downside of -11.63. The average equity rating for COIN stock is currently 2.73, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $43.08 billion, with 195.19 million shares outstanding and 167.15 million shares in the current float. Compared to the average trading volume of 13.60M shares, COIN stock reached a trading volume of 33130251 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 $161.52 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 2.73. 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.

Keefe Bruyette have made an estimate for Coinbase Global Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on February 16, 2024.

The Average True Range (ATR) for Coinbase Global Inc is set at 11.62, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 13.86. The Price to Book ratio for the last quarter was 6.95, with the Price to Cash per share for the same quarter was set at 24.02. Price to Free Cash Flow for COIN in the course of the last twelve months was 71.18.

COIN Stock Performance Analysis:

Coinbase Global Inc [COIN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.99. With this latest performance, COIN shares gained by 45.01% in over the last four-week period, additionally plugging by 138.63% over the last 6 months – not to mention a rise of 160.04% 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 72.19, with the RSI for the last a single of trading hit 79.41, and the three-weeks RSI is set at 67.56 for Coinbase Global Inc [COIN]. The present Moving Average for the last 50 days of trading for this stock 145.05, while it was recorded at 158.81 for the last single week of trading, and 95.86 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%.