In the past week, COIN stock has gone up by 2.01%, with a monthly decline of -2.38% and a quarterly surge of 74.09%. The volatility ratio for the week is 6.19%, and the volatility levels for the last 30 days are 6.93% for Coinbase Global Inc The simple moving average for the last 20 days is -2.53% for COIN’s stock, with a simple moving average of 91.20% for the last 200 days.
Is It Worth Investing in Coinbase Global Inc (NASDAQ: COIN) Right Now?
The price-to-earnings ratio for Coinbase Global Inc (NASDAQ: COIN) is above average at 911.87x. The 36-month beta value for COIN is also noteworthy at 3.41. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for COIN is 169.50M, and at present, short sellers hold a 6.86% of that float. The average trading volume of COIN on April 15, 2024 was 13.56M shares.
COIN) stock’s latest price update
The stock price of Coinbase Global Inc (NASDAQ: COIN) has dropped by -6.56 compared to previous close of 263.01. Despite this, the company has seen a gain of 2.01% in its stock price over the last five trading days. The Motley Fool reported 2024-04-13 that Coinbase operates a sophisticated business model that earns revenue in multiple ways. Newly approved spot Bitcoin ETFs fuel the current crypto market surge, and Coinbase benefits directly.
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 $110 based on the research report published on April 10, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see COIN reach a price target of $179, previously predicting the price at $146. The rating they have provided for COIN stocks is “Underweight” according to the report published on April 08th, 2024.
Oppenheimer gave a rating of “Outperform” to COIN, setting the target price at $276 in the report published on April 04th of the current year.
COIN Trading at 17.27% 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 -13.31% of loss for the given period.
Volatility was left at 6.93%, however, over the last 30 days, the volatility rate increased by 6.19%, as shares surge +5.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +91.69% upper at present.
During the last 5 trading sessions, COIN rose by +2.01%, which changed the moving average for the period of 200-days by +251.62% in comparison to the 20-day moving average, which settled at $252.73. In addition, Coinbase Global Inc saw 41.30% 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 Ehrsam Frederick Ernest III, who sale 16,380 shares at the price of $256.19 back on Apr 08 ’24. After this action, Ehrsam Frederick Ernest III now owns 0 shares of Coinbase Global Inc, valued at $4,196,390 using the latest closing price.
Armstrong Brian, the Chairman and CEO of Coinbase Global Inc, sale 23,075 shares at $256.30 during a trade that took place back on Apr 04 ’24, which means that Armstrong Brian is holding 526 shares at $5,914,180 based on the most recent closing price.
Stock Fundamentals for COIN
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.86 for the gross margin
The net margin for Coinbase Global Inc stands at 0.03. The total capital return value is set at -0.01. Equity return is now at value 1.62, with 0.06 for asset returns.
Based on Coinbase Global Inc (COIN), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at 0.36. The debt to equity ratio resting at 0.49. The interest coverage ratio of the stock is -0.59.
Currently, EBITDA for the company is 66.86 million with net debt to EBITDA at -25.21. When we switch over and look at the enterprise to sales, we see a ratio of 18.3. The receivables turnover for the company is 7.31for trailing twelve months and the total asset turnover is 0.02.
Conclusion
In summary, Coinbase Global Inc (COIN) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
