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Why Coinbase Global Inc. (COIN)’s Most Recent Report Reveals Some Hints About Its Future

Coinbase Global Inc. (NASDAQ:COIN) went up by 11.61% from its latest closing price compared to the recent 1-year high of $232.00. The company’s stock price has collected 16.00% of gains in the last five trading sessions. The Wall Street Journal reported on 01/17/23 that Coinbase Leaders Sharply Slow Their Stock Sales

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

Opinions of the stock are interesting as 8 analysts out of 30 who provided ratings for Coinbase Global Inc. declared the stock was a “buy,” while 2 rated the stock as “overweight,” 13 rated it as “hold,” and 5 as “sell.”

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The average price from analysts is $61.73, which is $8.56 above the current price. COIN currently public float of 175.62M and currently shorts hold a 23.82% ratio of that float. Today, the average trading volume of COIN was 15.52M shares.

COIN’s Market Performance

COIN stocks went up by 16.00% for the week, with a monthly jump of 56.84% and a quarterly performance of -12.71%, while its annual performance rate touched -74.87%. The volatility ratio for the week stands at 10.84% while the volatility levels for the past 30 days are set at 9.08% for Coinbase Global Inc. The simple moving average for the period of the last 20 days is 39.60% for COIN stocks with a simple moving average of -21.29% for the last 200 days.

Analysts’ Opinion of COIN

Many brokerage firms have already submitted their reports for COIN stocks, with BofA Securities repeating the rating for COIN by listing it as a “Underperform.” The predicted price for COIN in the upcoming period, according to BofA Securities is $35 based on the research report published on January 11th of the current year 2023.

Jefferies, on the other hand, stated in their research note that they expect to see COIN reach a price target of $35. The rating they have provided for COIN stocks is “Hold” according to the report published on January 09th, 2023.

Cowen gave a rating of “Market Perform” to COIN, setting the target price at $36 in the report published on January 05th of the current year.

COIN Trading at 28.47% 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 -76.22% of loss for the given period.

Volatility was left at 9.08%, however, over the last 30 days, the volatility rate increased by 10.84%, as shares surge +57.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.18% lower at present.

During the last 5 trading sessions, COIN rose by +16.00%, which changed the moving average for the period of 200-days by -71.22% in comparison to the 20-day moving average, which settled at $40.52. In addition, Coinbase Global Inc. saw 55.86% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at COIN starting from Lutke Tobias, who purchase 6,834 shares at the price of $54.21 back on Jan 18. After this action, Lutke Tobias now owns 190,670 shares of Coinbase Global Inc., valued at $370,471 using the latest closing price.

Armstrong Brian, the Chairman and CEO of Coinbase Global Inc., sale 31,143 shares at $52.81 during a trade that took place back on Jan 17, which means that Armstrong Brian is holding 0 shares at $1,644,785 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 -18.40, with -1.70 for asset returns.