Coinbase Global Inc (NASDAQ: COIN)’s stock price has plunge by 1.65relation to previous closing price of 223.25. Nevertheless, the company has seen a 4.02% surge in its stock price over the last five trading sessions. InvestorPlace reported 2024-05-06 that Some undervalued metaverse stocks should be on investors’ radars this month. These companies are at the forefront of developing cutting-edge technologies that will shape the future of virtual worlds.
Is It Worth Investing in Coinbase Global Inc (NASDAQ: COIN) Right Now?
The price-to-earnings ratio for Coinbase Global Inc (NASDAQ: COIN) is 45.32x, which is above its average ratio. Moreover, the 36-month beta value for COIN is 3.47. Analysts have varying 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 173.24M and currently, short sellers hold a 6.65% of that float. On May 07, 2024, COIN’s average trading volume was 12.95M shares.
COIN’s Market Performance
COIN stock saw a decrease of 4.02% in the past week, with a monthly decline of -5.80% and a quarterly a decrease of 93.46%. The volatility ratio for the week is 7.93%, and the volatility levels for the last 30 days are 7.41% for Coinbase Global Inc (COIN). The simple moving average for the past 20 days is -0.81% for COIN’s stock, with a 62.79% simple moving average for the past 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 -3.18% 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 -19.95% of loss for the given period.
Volatility was left at 7.41%, however, over the last 30 days, the volatility rate increased by 7.93%, as shares sank -11.70% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +36.72% upper at present.
During the last 5 trading sessions, COIN rose by +4.02%, which changed the moving average for the period of 200-days by +124.11% in comparison to the 20-day moving average, which settled at $227.28. In addition, Coinbase Global Inc saw 30.48% 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 $208.21 back on May 01 ’24. After this action, Ehrsam Frederick Ernest III now owns 0 shares of Coinbase Global Inc, valued at $3,410,479 using the latest closing price.
Choi Emilie, the President & COO of Coinbase Global Inc, sale 8,000 shares at $208.35 during a trade that took place back on May 01 ’24, which means that Choi Emilie is holding 205,851 shares at $1,666,798 based on the most recent closing price.
Stock Fundamentals for COIN
Current profitability levels for the company are sitting at:
- 0.18 for the present operating margin
- 0.81 for the gross margin
The net margin for Coinbase Global Inc stands at 0.34. The total capital return value is set at 0.06. Equity return is now at value 19.63, with 0.55 for asset returns.
Based on Coinbase Global Inc (COIN), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at 0.25. The debt to equity ratio resting at 0.52. The interest coverage ratio of the stock is 8.86.
Currently, EBITDA for the company is 66.86 million with net debt to EBITDA at -2.72. When we switch over and look at the enterprise to sales, we see a ratio of 13.43. The receivables turnover for the company is 3.55for trailing twelve months and the total asset turnover is 0.01.
Conclusion
To wrap up, the performance of Coinbase Global Inc (COIN) has been better in recent times. The stock has received a mixed of “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.
