Coinbase Global Inc (NASDAQ:COIN) finished Thursday with an addition of $3.64 to close at $75.16, an upside of 5.09 percent. An average of 6,024,760 shares of common stock have been traded in the last five days. There was a gain of $0.74 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 6,593,655 shares traded, while the 50-day average volume stands at 8,144,738.
COIN stock has decreased by -11.26% in the last month. The company shares reached their 1-month lowest point of $69.63 on 09/25/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $31.55 and a high of $114.43 in 52 weeks. It has reached a new high 16 times so far this year and achieved 112.38% or $39.77 in price. In spite of this, the price is down -34.32% 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 8 days ago on Sep 21. In this transaction, the insider spent $85,165. Chief People Officer, Brock Lawrence J, disposed of 19,814 shares at a price of $78.34 on Sep 01. The insider now owns more than $1,552,201 worth of shares. Prior to that, Chief Legal Officer Grewal Paul went on to Sale 2,402 shares at $77.03 each on Aug 29. An amount of $185,035 was transacted.
Valuation Metrics
Coinbase Global Inc (COIN) stock’s beta is 2.71. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.60, the price-to-book (PB) ratio at 3.09, and the price-to-cash flow ratio at 6.03.
Financial Health
Further, the company has a long term debt to equity ratio of 0.58 and a total debt to equity ratio of 0.61 for the quarter ending March 30. Its gross profit as reported stood at $2.56 billion compared to revenue of $3.19 billion.
Earnings Surprise
For the three-month period that ended March 30, Coinbase Global Inc had $3.33 billion in total debt. The analyst consensus anticipated Coinbase Global Inc’s latest quarter earnings to come in at $0 per share, but it turned out to be $0.03. For the quarter, EBITDA amounted to -$34.35 million. Shareholders own equity worth $237.18 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 28 September was 46.73%, suggesting the stock is Neutral, with historical volatility in this time frame at 45.59%.
As of today, COIN’s price is $71.98 +0.99% or $0.74 from its 5-day moving average. COIN is currently trading -10.34% lower than its 20-day SMA and +29.05% higher than its 100-day SMA. However, the stock’s current price level is -31.77% below the SMA50 and +86.78% above the SMA200.
The stochastic %K and %D were 16.56% and 10.88%, respectively, and the average true range (ATR) was 4.19. With the 14-day stochastic at 33.05% and the average true range at 4.36, the RSI (14) stands at 45.46%. The stock has reached -2.13 on the 9-day MACD Oscillator while the 14-day reading was at -4.61.
Analyst Ratings
Canaccord Genuity reiterated its a Buy rating on Coinbase Global Inc (NASDAQ: COIN), but raised their price target to $70, indicating a potential price decrease of -7.37% for the stock. The consensus rating for Coinbase Global Inc (COIN) among analysts is Hold. According to current brokerage recommendations, 6 brokerage firms advise that investors sell COIN, while 11 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 9 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 $27.00 and $200.00, with a median target of $85.00. Taking a look at these predictions, the average price target given by analysts for Coinbase Global Inc (COIN) stock is $89.77.
