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We Analyzed the Future Direction of Coinbase Global Inc. (COIN), Here is What We Found

Coinbase Global Inc. (NASDAQ:COIN) went down by -5.50% from its latest closing price compared to the recent 1-year high of $368.90. The company’s stock price has collected -15.29% of loss in the last five trading sessions. Barron’s reported 7 hours ago that Take-Two, Crypto Stocks, AutoZone, and More Stock Market Movers

Is It Worth Investing in Coinbase Global Inc. (NASDAQ :COIN) Right Now?

Opinions of the stock are interesting as 13 analysts out of 27 who provided ratings for Coinbase Global Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 11 rated it as “hold,” and 3 as “sell.”

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The average price from analysts is $100.68, which is $29.98 above the current price. COIN currently public float of 173.59M and currently shorts hold a 14.18% ratio of that float. Today, the average trading volume of COIN was 14.20M shares.

COIN’s Market Performance

COIN stocks went down by -15.29% for the week, with a monthly drop of -16.22% and a quarterly performance of 36.53%, while its annual performance rate touched -71.48%. The volatility ratio for the week stands at 6.19% while the volatility levels for the past 30 days are set at 7.02% for Coinbase Global Inc. The simple moving average for the period of the last 20 days is -2.19% for COIN stocks with a simple moving average of -49.33% for the last 200 days.

Analysts’ Opinion of COIN

Many brokerage firms have already submitted their reports for COIN stocks, with Daiwa Securities repeating the rating for COIN by listing it as a “Buy.” The predicted price for COIN in the upcoming period, according to Daiwa Securities is $100 based on the research report published on September 09th of the current year 2022.

Barclays, on the other hand, stated in their research note that they expect to see COIN reach a price target of $80. The rating they have provided for COIN stocks is “Equal Weight” according to the report published on August 31st, 2022.

Keefe Bruyette gave a rating of “Underperform” to COIN, setting the target price at $45 in the report published on August 10th of the current year.

COIN Trading at -3.03% from the 50-Day Moving Average

After a stumble in the market that brought COIN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -81.04% of loss for the given period.

Volatility was left at 7.02%, however, over the last 30 days, the volatility rate increased by 6.19%, as shares sank -5.58% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.99% upper at present.

During the last 5 trading sessions, COIN fell by -15.29%, which changed the moving average for the period of 200-days by -76.25% in comparison to the 20-day moving average, which settled at $71.29. In addition, Coinbase Global Inc. saw -72.29% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at COIN starting from Lutke Tobias, who purchase 4,482 shares at the price of $75.39 back on Sep 13. After this action, Lutke Tobias now owns 54,583 shares of Coinbase Global Inc., valued at $337,898 using the latest closing price.

Lutke Tobias, the Director of Coinbase Global Inc., purchase 5,894 shares at $62.00 during a trade that took place back on Sep 07, which means that Lutke Tobias is holding 50,101 shares at $365,428 based on the most recent closing price.

Stock Fundamentals for COIN

Current profitability levels for the company are sitting at:

  • +39.24 for the present operating margin
  • +83.83 for the gross margin

The net margin for Coinbase Global Inc. stands at +39.50. Equity return is now at value -2.90, with -0.40 for asset returns.

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