Analysis Of The Weekly Performance Of Coinbase Global Inc. (COIN)

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Coinbase Global Inc. (NASDAQ:COIN) finished Thursday with a subtraction of -$4.7 to close at $62.94, a downside of -6.95 percent. An average of 12,339,980 shares of common stock have been traded in the last five days. There was a fall of -$14.29 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 10,177,365 shares traded, while the 50-day average volume stands at 14,215,732.

COIN stock has decreased by -11.58% in the last month. The company shares reached their 1-month lowest point of $61.83 on 09/07/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $40.83 and a high of $368.90 in 52 weeks. It has reached a new high 2 times so far this year and lost -75.06% or -$189.43 in price. In spite of this, the price is down -82.94% from the 52-week high.


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Insider Transactions

30 days have passed since Coinbase Global Inc. (COIN) last reported insider trading activity. Jones Jennifer N., who is Chief Accounting Officer, most recently acquired $2,177 shares at $72.00 per share on Aug 24. In this transaction, the insider spent $156,744. Chief Accounting Officer, Jones Jennifer N., disposed of 4,512 shares at a price of $97.24 on Aug 11. The insider now owns more than $438,747 worth of shares. Prior to that, Chief Legal Officer Grewal Paul went on to Sale 1,090 shares at $67.26 each on May 23. An amount of $73,313 was transacted.

Valuation Metrics

Coinbase Global Inc. (COIN) has a trailing price-to-sales (P/S) ratio at 2.56, the price-to-book (PB) ratio at 2.39.

Financial Health

The quick ratio of Coinbase Global Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.58 and a total debt to equity ratio of 0.58 for the quarter ending June 29. Its gross profit as reported stood at $6.57 billion compared to revenue of $7.84 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Coinbase Global Inc.’s return on assets was -0.40%.

Earnings Surprise

For the three-month period that ended June 29, Coinbase Global Inc. had $3.39 billion in total debt. The analyst consensus anticipated Coinbase Global Inc.’s latest quarter earnings to come in at -$2.65 per share, but it turned out to be -$4.95, a -86.80% surprise. For the quarter, EBITDA amounted to -$999.62 million. Shareholders own equity worth $225.14 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Coinbase Global Inc. (COIN) price momentum. RSI 9-day as of the close on 22 September was 33.28%, suggesting the stock is Neutral, with historical volatility in this time frame at 61.69%.

As of today, COIN’s price is $68.49 -18.50% or -$14.29 from its 5-day moving average. COIN is currently trading -11.95% lower than its 20-day SMA and -44.16% lower than its 100-day SMA. However, the stock’s current price level is +18.53% above the SMA50 and -76.09% below the SMA200.

The stochastic %K and %D were 19.09% and 29.03%, respectively, and the average true range (ATR) was 5.74. With the 14-day stochastic at 4.88% and the average true range at 6.15, the RSI (14) stands at 39.52%. The stock has reached -6.74 on the 9-day MACD Oscillator while the 14-day reading was at -5.71.

Analyst Ratings

Daiwa Securities upgraded Coinbase Global Inc. (NASDAQ: COIN) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Coinbase Global Inc. (COIN) among analysts is Overweight. According to current brokerage recommendations, 3 brokerage firms advise that investors sell COIN, while 11 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 13 others rate it as a “buy”.

What is COIN’s price target for the next 12 months?

Analysts predict a range of price targets between $42.00 and $220.00, with a median target of $97.50. Taking a look at these predictions, the average price target given by analysts for Coinbase Global Inc. (COIN) stock is $100.68.

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