The stock price of Coinbase Global Inc (NASDAQ: COIN) has surged by 5.68 when compared to previous closing price of 223.61, but the company has seen a 11.99% gain in its stock price over the last five trading sessions. The Dog of Wall Street reported 2024-04-27 that Since big tech is the theme, you probably know what I have my eyes on for next week.
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 876.88x, Company’s 36-month beta value is 3.43.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for COIN is 169.17M, and currently, short sellers hold a 6.81% ratio of that floaft. The average trading volume of COIN on April 29, 2024 was 13.01M shares.
COIN’s Market Performance
COIN’s stock has seen a 11.99% increase for the week, with a -7.94% drop in the past month and a 88.75% gain in the past quarter. The volatility ratio for the week is 6.66%, and the volatility levels for the past 30 days are at 6.83% for Coinbase Global Inc The simple moving average for the last 20 days is -0.71% for COIN stock, with a simple moving average of 73.91% 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 $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 3.54% 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 -16.64% of loss for the given period.
Volatility was left at 6.83%, however, over the last 30 days, the volatility rate increased by 6.66%, as shares sank -10.86% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +47.35% upper at present.
During the last 5 trading sessions, COIN rose by +11.99%, which changed the moving average for the period of 200-days by +174.95% in comparison to the 20-day moving average, which settled at $236.57. In addition, Coinbase Global Inc saw 35.88% 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 $232.37 back on Apr 23 ’24. After this action, Ehrsam Frederick Ernest III now owns 0 shares of Coinbase Global Inc, valued at $3,806,176 using the latest closing price.
Rajaram Gokul, the Director of Coinbase Global Inc, sale 1,145 shares at $215.57 during a trade that took place back on Apr 18 ’24, which means that Rajaram Gokul is holding 3,688 shares at $246,828 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 17.56. The receivables turnover for the company is 7.31for trailing twelve months and the total asset turnover is 0.02.
Conclusion
In a nutshell, Coinbase Global Inc (COIN) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
