The stock of Coinbase Global Inc. (NASDAQ:COIN) decreased by -$0.2 on Monday to finish at $80.81, down -0.25 percent. The last five days have seen an average of 7,243,200 shares of common stock traded. 16 times new highs were reached in the current year, with a gain of $45.42. The average number of shares traded over the last 20 days was 10,173,135, while the average volume over the last 50 days totaled 16,658,938.
COIN stock dropped -23.26% since last month. On 08/14/23, the company’s shares reached a one-month low of $78.91. The stock touched a high of $114.43 on 07/14/23, after rallying from a low of $31.55 in 52 weeks. The price of COIN stock has risen by 128.34% or $45.42 this year, reaching a new high 16 times. Still, the stock price is down -29.38% from the 52-week high.
Insider Transactions
COIN stock investors should be aware that Coinbase Global Inc. (COIN) stock had its last reported insider trading activity 14 days ago on Aug 01. On Aug 01, Chairman and CEO Armstrong Brian sold 29,725 shares at $92.20 each. This transaction resulted in the insider making $2,740,709. On Jul 18, Armstrong Brian sold 59,460 shares at a price of US$105.69. After the transaction, the insider now owns 0 shares. Director Rajaram Gokul had earlier sold 4,580 shares on Jul 14 for $106.65 a share. The transaction was completed for $488,457.
Valuation Metrics
Beta for the stock is 2.76. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 7.31, the price-to-book (PB) ratio of 3.29, and the price-to-cash flow ratio of 7.59.
Financial Health
For the three months ended March 30, Coinbase Global Inc.’s quick ratio was 1.00, while its current ratio was 1.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.58, and the total debt to equity ratio is 0.58. As far as profitability goes, gross margin for the trailing twelve months is 85.60% percent. Coinbase Global Inc.’s operating margin stood at -48.50% for the same period. Based on annual data, it had gross profit of $2.56 billion and revenue of $3.19 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. COIN’s return on assets (ROA) during the last 12 months has been -1.10%. There was a -25.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -22.70%.
Earnings Surprise
According to Coinbase Global Inc.’s quarterly financial report for the quarter that ended March 30. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Coinbase Global Inc.’s quarterly earnings would be $0.03, but it ended up being $0. EBITDA was -$34.35 million for the quarter. At the end of Coinbase Global Inc.’s most recent quarter ended March 30, its liabilities totaled 131.9 billion, while its total debt was $3.5 billion. Equity owned by shareholders amounts to $237.18 million.
Technical Picture
Here’s a quick look at Coinbase Global Inc.’s (COIN) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 32.09%, suggesting the stock is Neutral, with a 31.21% historical volatility rate.
The stochastic %K and %D were 5.57% and 7.99% respectively, while the average true range (ATR) was 5.64. Based on the 14-day stochastic reading of 7.98%, the RSI (14) reading is 41.27%. On the 9-day MACD Oscillator, the stock is at -4.05, and the 14-day reading is at -7.69.
Analyst Ratings
In a note to investors, Canaccord Genuity maintained its a Buy rating on Coinbase Global Inc. (NASDAQ: COIN). However, the firm raised their price target to $140, indicating a possible decrease of -15.44% in the stock price. Analysts have assigned Coinbase Global Inc. (COIN) an Hold rating. COIN is a stock that is recommended for selling by 6 brokerage firms, while 11 companies recommend holding. The stock is underweighted by 2 analysts. Among the analysts who rate the stock, 0 rates it overweight and 9 others recommend it as a buy.
What is COIN’s price target for the next 12 months?
The current consensus forecast for the stock is between $27.00 and $200.00, with a median target price of $80.00. In analyzing these forecasts, the average price target given by analysts for Coinbase Global Inc. (COIN) is $89.30.
