Coinbase Global Inc (NASDAQ:COIN) saw an upside of 1.11% to close Monday at $71.75 after adding $0.79 on the day. The 5-day average trading volume is 6,191,440 shares of the company’s common stock. It has gained $82.40 in the past week and touched a new high 1 time within the past 5 days. An average of 7,534,360 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 8,823,722.
COIN’s 1-month performance is -2.59% or -$2.51 on its low of $69.63 reached on 09/25/23. The company’s shares have touched a 52-week low of $31.55 and high of $114.43, with the stock’s rally to the 52-week high happening on 07/14/23. YTD, COIN has achieved 102.74% or $36.36 and has reached a new high 16 times. However, the current price is down -37.30% from the 52-week high price.
Insider Transactions
COIN stock investors last saw insider trading activity on Sep 21.Rajaram Gokul (Director) most recently sold 1,145 shares at $74.38 per share on Sep 21. This transaction cost the insider $85,165. Chief People Officer, Brock Lawrence J, sold 19,814 shares at a price of $78.34 on Sep 01. Then, on Aug 29, Chief Legal Officer Grewal Paul sold 2,402 shares at a price of $77.03 per share. This transaction amounted to $185,035.
Valuation Metrics
COIN stock has a beta of 2.74. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.30 while the price-to-book (PB) in the most recent quarter is 2.95, with the price to cash flow ratio at 5.76.
As well, the company’s long term debt to equity for the quarter ending March 30 was 0.58, while the total debt to equity was 0.61. In terms of profitability, the gross margin trailing 12 months is 79.80%. The firm’s gross profit as reported stood at $2.56 billion against revenue of $3.19 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected COIN to announce $0 per share in earnings in its latest quarter, but it posted $0.03. EBITDA for the quarter stood at more than -$34.35 million. COIN stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 131.9 billion, with total debt at $3.5 billion. Shareholders hold equity totaling $237.18 million.
Let’s look briefly at Coinbase Global Inc (COIN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 31.33% to suggest the stock is trending Neutral, with historical volatility in this time period at 40.57%.
The stock’s 5-day moving average is $74.39, reflecting a -12.08% or -$9.86 change from its current price. COIN is currently trading -3.38% above its 20-day SMA, +39.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -31.87% and SMA200 by+69.18%.
Stochastic %K and %D was 8.40% and 10.64% and the average true range (ATR) pointed at 4.16. The RSI (14) points at 37.00%, while the 14-day stochastic is at 12.67% with the period’s ATR at 4.39. The stock’s 9-day MACD Oscillator is pointing at -5.29 and -6.40 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Coinbase Global Inc (NASDAQ: COIN), Canaccord Genuity reiterated its a Buy rating for the company but lifted their price target by $70 to $140. Analysts offering their rating for COIN stock have a consensus rating for the stock as Hold. Currently, 6 brokerage advisors rate COIN as a “sell,”, while 11 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 0 rates the stock as overweight while 9 have offered a “buy” rating.
What is COIN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $27.00 and a high of $200.00, with their median price target at $85.00. Looking at these predictions, the average price target given by analysts is for Coinbase Global Inc (COIN) stock is $89.77.
