In yesterday’s Wall Street session, Coinbase Global Inc (NASDAQ:COIN) shares traded at $141.09, up 5.48% from the previous session.
As of this writing, 27 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 $35.00, we find $80.00. Given the previous closing price of $133.76, this indicates a potential downside of -40.19 percent. COIN stock price is now 62.21% away from the 50-day moving average and 88.94% away from the 200-day moving average. The market capitalization of the company currently stands at $33.76B.
There are 11 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $86.43 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 10,000 shares of the company’s stock on Nov 29. The stock was sold for $1,300,859 at an average price of $130.09. Upon completion of the transaction, the Chief Legal Officer now directly owns 61,665 shares in the company, valued at $8.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 28, Chairman and CEO Armstrong Brian sold 50,000 shares of the business’s stock. A total of $6,259,435 was realized by selling the stock at an average price of $125.19. Insiders disposed of 662,788 shares of company stock worth roughly $93.51 million over the past 1 year. A total of 29.96% of the company’s stock is owned by insiders.
Monday morning saw Coinbase Global Inc (NASDAQ: COIN) opened at $143.53. During the past 12 months, Coinbase Global Inc has had a low of $31.55 and a high of $134.33. The fifty day moving average price for COIN is $86.98 and a two-hundred day moving average price translates $74.67 for the stock.
The latest earnings results from Coinbase Global Inc (NASDAQ: COIN) was released for Sep, 2023. 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.
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.
