Coinbase Global Inc [NASDAQ: COIN] stock went on an upward path that rose over 5.77% on Firday, amounting to a one-week price increase of more than 24.71%. The company report on February 28, 2024 at 8:05 AM that Coinbase to Participate in the Morgan Stanley Technology, Media and Telecom Conference.
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 6, 2024 at 3:35 p.m. PT / 6:35 p.m. ET.
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A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.
Over the last 12 months, COIN stock rose by 307.27%. The one-year Coinbase Global Inc stock forecast points to a potential downside of -47.34. The average equity rating for COIN stock is currently 2.64, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $62.17 billion, with 195.19 million shares outstanding and 168.89 million shares in the current float. Compared to the average trading volume of 14.73M shares, COIN stock reached a trading volume of 21759198 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 $174.17 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 2.64. 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.
Goldman have made an estimate for Coinbase Global Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 08, 2024. The new note on the price target was released on February 16, 2024, representing the official price target for Coinbase Global Inc stock. Previously, the target price had yet another raise to $80, while JP Morgan analysts kept a Neutral rating on COIN stock.
The Average True Range (ATR) for Coinbase Global Inc is set at 16.33, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 20.00. The Price to Book ratio for the last quarter was 9.89, with the Price to Cash per share for the same quarter was set at 23.68. Price to Free Cash Flow for COIN in the course of the last twelve months was 102.74.
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 24.71. With this latest performance, COIN shares gained by 110.22% in over the last four-week period, additionally plugging by 213.75% over the last 6 months – not to mention a rise of 307.27% 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 78.25, with the RSI for the last a single of trading hit 81.88, and the three-weeks RSI is set at 75.03 for Coinbase Global Inc [COIN]. The present Moving Average for the last 50 days of trading for this stock 159.46, while it was recorded at 236.74 for the last single week of trading, and 106.10 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%.
