As of Thursday close, Coinbase Global Inc.’s (NASDAQ:COIN) stock was down -$3.44, moving down -4.35 percent to $75.56. The average number of shares traded per day over the past five days has been 7,668,700 shares. 1 time new highs have been achieved over the past 5 days, with a -$7.83 fall in that time frame. In the last twenty days, the average volume was 9,074,215, while in the previous 50 days, it was 15,368,844.
Since last month, COIN stock retreated -31.40%. Shares of the company fell to $75.40 on 08/17/23, the lowest level in the past month. A 52-week high of $114.43 was reached on 07/14/23 after having rallying from a 52-week low of $31.55. Since the beginning of this year, COIN’s stock price has risen by 113.51% or $40.17, and marked a new high 16 times. However, the stock has declined by -33.97% since its 52-week high.
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COIN stock investors should be aware that Coinbase Global Inc. (COIN) stock had its last reported insider trading activity 17 days ago on Aug 01. Armstrong Brian, the Chairman and CEO of the company, disposed of 29,725 shares for $92.20 on Aug 01. It resulted in a $2,740,709 divestment by the insider. Armstrong Brian sold 59,460 shares at an average price of $105.69 on Jul 18. The insider now owns 0 shares following the transaction. On Jul 14, Director Rajaram Gokul sold 4,580 shares at $106.65 apiece. The transaction was valued at $488,457.
Valuation Metrics
The stock’s beta is 2.76. Besides these, the trailing price-to-sales (P/S) ratio of 6.83, the price-to-book (PB) ratio of 3.08, and the price-to-cash flow ratio of 7.10 may also be considered.
Financial Health
In the three months ended March 30, Coinbase Global Inc.’s quick ratio stood at 1.00, while its current ratio was 1.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.58, and the total debt-to-equity ratio was 0.58. On the profitability front, the trailing twelve-month gross margin is 85.60% percent. In the year ended March 30, operating margins totaled -48.50%. Based on annual data, COIN earned $2.56 billion in gross profit and brought in $3.19 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -25.60%. Return on equity (ROE) for the past 12 months was -22.70%.
In Coinbase Global Inc.’s quarter-end financial report for March 30, it reported total debt of $3.33 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Coinbase Global Inc. to report $0 quarterly earnings, the actual figure was $0.03 per share. During the quarter, the company generated -$34.35 million in EBITDA. The liabilities of Coinbase Global Inc. were 131.9 billion at the end of its most recent quarter ended March 30, and its total debt was $3.5 billion. The value of shareholders’ equity is $237.18 million.
Technical Picture
This quick technical analysis looks at Coinbase Global Inc.’s (COIN) price momentum. With a historical volatility rate of 29.44%, the RSI 9-day stood at 24.52% on 17 August.
With respect to its five-day moving average, the current Coinbase Global Inc. price is down by -9.39% percent or -$7.83. At present, COIN shares trade -25.38% below its 20-day simple moving average and +11.40% percent above its 100-day simple moving average. However, the stock is currently trading approximately +46.41% above its SMA50 and +4.84% above its SMA200.
Stochastic coefficient K was 2.38% and Stochastic coefficient D was 3.68%, while ATR was 5.23. Given the Stochastic reading of 0.65% for the 14-day period, the RSI (14) reading has been calculated as 35.52%. As of today, the MACD Oscillator reading stands at -4.01, while the 14-day reading stands at -7.70.
Analyst Ratings
Canaccord Genuity reiterated its a Buy rating on Coinbase Global Inc. (NASDAQ: COIN) in a note to investors. The analysts firm has however raised their price target to $140, representing a possible -7.94% increase in the stock price. Coinbase Global Inc. (COIN) has been rated Hold by analysts. According to 6 brokerage firms, COIN is a sell, and 11 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 0 analysts rate Coinbase Global Inc. stock as buy, with 9 recommending it as overweight.
With a median target price of $85.00, the current consensus forecast for the stock is $27.00 – $200.00. Based on these forecasts, analysts predict Coinbase Global Inc. (COIN) will achieve an average price target of $89.73.
