Do you still think Coinbase Global Inc (NASDAQ:COIN) is worth a look?

In yesterday’s Wall Street session, Coinbase Global Inc (NASDAQ:COIN) shares traded at $89.07, up 3.13% from the previous session.

As of this writing, 28 analysts cover Coinbase Global Inc (NASDAQ:COIN). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $150.00 and a low of $27.00, we find $80.00. Given the previous closing price of $86.37, this indicates a potential downside of -7.38 percent. COIN stock price is now 14.97% away from the 50-day moving average and 25.88% away from the 200-day moving average. The market capitalization of the company currently stands at $21.12B.

There are 12 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $84.76 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, Rajaram Gokul, Director sold 1,145 shares of the company’s stock on Oct 19. The stock was sold for $85,119 at an average price of $74.34. Upon completion of the transaction, the Director now directly owns 10,558 shares in the company, valued at $0.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 21, Director Rajaram Gokul sold 1,145 shares of the business’s stock. A total of $85,165 was realized by selling the stock at an average price of $74.38. This leaves the insider owning 11,703 shares of the company worth $1.04 million. Insiders disposed of 796,047 shares of company stock worth roughly $70.9 million over the past 1 year. A total of 25.19% of the company’s stock is owned by insiders.

During the past 12 months, Coinbase Global Inc has had a low of $31.55 and a high of $114.43. The fifty day moving average price for COIN is $77.47 and a two-hundred day moving average price translates $70.76 for the stock.

The latest earnings results from Coinbase Global Inc (NASDAQ: COIN) was released for Sep, 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 $1.00 EPS in the same period last year. The net profit margin was -26.42% and return on equity was -12.74% for COIN. The company reported revenue of $674.15 million for the quarter, compared to $590.34 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.2 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.

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