In yesterday’s Wall Street session, Coinbase Global Inc. (NASDAQ:COIN) shares traded at $60.26, down -1.28% from the previous session.
30 analysts cover Coinbase Global Inc. (NASDAQ:COIN), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $200.00 and a low of $27.00, we find $63.00. Given the previous closing price of $61.04, this indicates a potential upside of 3.21 percent. COIN stock price is now -3.27% away from the 50-day moving average and -0.93% away from the 200-day moving average. The market capitalization of the company currently stands at $14.88B.
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The stock has received a hold rating from 12 analysts and a buy rating from 10. Brokers who have rated the stock have averaged $69.17 as their price target over the next twelve months.
With the price target of $55, Berenberg recently initiated with Hold rating for Coinbase Global Inc. (NASDAQ: COIN). On May 08, 2023, Daiwa Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $58 to quote $65, while ‘Citigroup’ rates the stock as ‘Neutral’.
In other news, Ehrsam Frederick Ernest III, Director bought 710,000 shares of the company’s stock on May 10. The stock was bought for $44,069,888 at an average price of $62.07. Upon completion of the transaction, the Director now directly owns 1,931,844 shares in the company, valued at $116.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09, Director Ehrsam Frederick Ernest III bought 100,000 shares of the business’s stock. A total of $5,965,114 was incurred on buying the stock at an average price of $59.65. This leaves the insider owning 1,221,844 shares of the company worth $73.63 million. Insiders disposed of 498,444 shares of company stock worth roughly $30.04 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in COIN stock. A new stake in Coinbase Global Inc. shares was purchased by NORGES BANK during the first quarter worth $85,569,000. COATUE MANAGEMENT LLC invested $38,388,000 in shares of COIN during the first quarter. In the first quarter, SLATE PATH CAPITAL LP acquired a new stake in Coinbase Global Inc. valued at approximately $34,288,000. TWINBEECH CAPITAL LP acquired a new stake in COIN for approximately $20,519,000. GAM HOLDING AG purchased a new stake in COIN valued at around $13,172,000 in the second quarter. In total, there are 814 active investors with 59.30% ownership of the company’s stock.
On Thursday morning Coinbase Global Inc. (NASDAQ: COIN) stock kicked off with the opening price of $60.47. During the past 12 months, Coinbase Global Inc. has had a low of $31.55 and a high of $116.30. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.00, and a quick ratio of 1.00. The fifty day moving average price for COIN is $62.24 and a two-hundred day moving average price translates $60.79 for the stock.
The latest earnings results from Coinbase Global Inc. (NASDAQ: COIN) was released for Mar, 2023. According to the Financial Data & Stock Exchanges Company, earnings per share came in at $0.03, beating analysts’ expectations of $0 by 0.03. This compares to -$1.98 EPS in the same period last year. The company reported revenue of $772.53 million for the quarter, compared to $1.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -33.77 percent. For the current quarter, analysts expect COIN to generate $180k in revenue.
Coinbase Global Inc.(COIN) Company Profile
Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.
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