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Should You Invest in Coinbase Global Inc. (COIN) Now?

, and the 36-month beta value for COIN is at 2.74. Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 0 rating it as “overweight,” 11 as “hold,” and 6 as “sell.”

The average price suggested by analysts for COIN is $89.77, which is $9.95 above the current market price. The public float for COIN is 182.14M, and currently, shorts hold a 12.67% of that float. The average trading volume for COIN on September 18, 2023 was 13.17M shares.

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COIN) stock’s latest price update

Coinbase Global Inc. (NASDAQ: COIN)’s stock price has decreased by -0.65 compared to its previous closing price of 82.15. However, the company has seen a 1.24% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2023-09-17 that Five crypto-centric stocks in focus are: NVDA, PYPL, SQ, COIN, HOOD.

COIN’s Market Performance

COIN’s stock has risen by 1.24% in the past week, with a monthly rise of 8.02% and a quarterly rise of 46.82%. The volatility ratio for the week is 5.26% while the volatility levels for the last 30 days are 5.62% for Coinbase Global Inc. The simple moving average for the last 20 days is 3.59% for COIN stock, with a simple moving average of 26.77% for the last 200 days.

Analysts’ Opinion of COIN

Many brokerage firms have already submitted their reports for COIN stocks, with Canaccord Genuity repeating the rating for COIN by listing it as a “Buy.” The predicted price for COIN in the upcoming period, according to Canaccord Genuity is $140 based on the research report published on August 01, 2023 of the current year 2023.

COIN Trading at -5.70% 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 -28.67% of loss for the given period.

Volatility was left at 5.62%, however, over the last 30 days, the volatility rate increased by 5.26%, as shares surge +11.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.57% upper at present.

During the last 5 trading sessions, COIN rose by +1.13%, which changed the moving average for the period of 200-days by +89.12% in comparison to the 20-day moving average, which settled at $79.20. In addition, Coinbase Global Inc. saw 130.62% 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 Brock Lawrence J, who sale 19,814 shares at the price of $78.34 back on Sep 01. After this action, Brock Lawrence J now owns 11,019 shares of Coinbase Global Inc., valued at $1,552,201 using the latest closing price.

Grewal Paul, the Chief Legal Officer of Coinbase Global Inc., sale 2,402 shares at $77.03 during a trade that took place back on Aug 29, which means that Grewal Paul is holding 61,665 shares at $185,035 based on the most recent closing price.

Stock Fundamentals for COIN

Current profitability levels for the company are sitting at:

  • -61.02 for the present operating margin
  • +80.28 for the gross margin

The net margin for Coinbase Global Inc. stands at -82.18. The total capital return value is set at -20.69, while invested capital returns managed to touch -28.03. Equity return is now at value -22.70, with -1.10 for asset returns.

Based on Coinbase Global Inc. (COIN), the company’s capital structure generated 64.47 points at debt to equity in total, while total debt to capital is 39.20. Total debt to assets is 3.92, with long-term debt to equity ratio resting at 62.98. Finally, the long-term debt to capital ratio is 38.29.

When we switch over and look at the enterprise to sales, we see a ratio of 6.55, with the company’s debt to enterprise value settled at 0.58. The receivables turnover for the company is 6.93 and the total asset turnover is 0.06.

Conclusion

In conclusion, Coinbase Global Inc. (COIN) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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