The stock of Coinbase Global Inc. (NASDAQ:COIN) last traded at $77.99, down -2.02% from the previous session.
Data from the available sources indicates that Coinbase Global Inc. (NASDAQ:COIN) is covered by 28 analysts. 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 $85.00. Given the previous closing price of $79.60, this indicates a potential upside of 6.78 percent. COIN stock price is now -7.70% away from the 50-day moving average and 24.39% away from the 200-day moving average. The market capitalization of the company currently stands at $18.88B.
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In total, 11 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $89.73 as their price target over the next twelve months.
With the price target enhanced from $70 to $140, Canaccord Genuity maintained Buy rating for Coinbase Global Inc. (NASDAQ: COIN).
In other news, Grewal Paul, Chief Legal Officer sold 2,402 shares of the company’s stock on Aug 29. The stock was sold for $185,035 at an average price of $77.03. Upon completion of the transaction, the Chief Legal Officer now directly owns 61,665 shares in the company, valued at $4.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 25, Chief Legal Officer Grewal Paul sold 2,402 shares of the business’s stock. A total of $177,923 was realized by selling the stock at an average price of $74.07. This leaves the insider owning 64,067 shares of the company worth $5.0 million. Insiders disposed of 369,379 shares of company stock worth roughly $28.81 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 $110,746,000. QUADRATURE CAPITAL LTD invested $102,245,000 in shares of COIN during the first quarter. In the first quarter, CONTRARIUS INVESTMENT MANAGEMENT LTD acquired a new stake in Coinbase Global Inc. valued at approximately $67,792,000. MARSHALL WACE, LLP acquired a new stake in COIN for approximately $34,952,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. purchased a new stake in COIN valued at around $23,602,000 in the second quarter. In total, there are 869 active investors with 59.30% ownership of the company’s stock.
With an opening price of $80.00 on Friday morning, Coinbase Global Inc. (NASDAQ: COIN) set off the trading day. During the past 12 months, Coinbase Global Inc. has had a low of $31.55 and a high of $114.43. As of last week, the company has a debt-to-equity ratio of 0.58, a current ratio of 1.00, and a quick ratio of 1.00. The fifty day moving average price for COIN is $84.91 and a two-hundred day moving average price translates $62.82 for the stock.
The latest earnings results from Coinbase Global Inc. (NASDAQ: COIN) was released for Jun, 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 -$4.95 EPS in the same period last year. The net profit margin was -47.30% and return on equity was -22.70% for COIN. The company reported revenue of $707.91 million for the quarter, compared to $808.33 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.42 percent. For the current quarter, analysts expect COIN to generate $170k 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.
