The stock of Coinbase Global Inc (NASDAQ: COIN) has decreased by -1.27 when compared to last closing price of 247.64.Despite this, the company has seen a gain of 0.14% in its stock price over the last five trading days. fool.com reported 2024-06-15 that Coinbase’s resilience during the crypto bear market and revamped business model showcase its potential for long-term success. Positioned in a rapidly growing cryptocurrency industry, Coinbase is well-placed to become a dominant force in digital finance.
Is It Worth Investing in Coinbase Global Inc (NASDAQ: COIN) Right Now?
Coinbase Global Inc (NASDAQ: COIN) has a price-to-earnings ratio that is above its average at 48.83x. The stock has a 36-month beta value of 3.44. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for COIN is 188.28M, and at present, short sellers hold a 5.29% of that float. On June 17, 2024, the average trading volume of COIN was 9.73M shares.
COIN’s Market Performance
The stock of Coinbase Global Inc (COIN) has seen a 0.14% increase in the past week, with a 11.18% rise in the past month, and a 0.88% gain in the past quarter. The volatility ratio for the week is 5.41%, and the volatility levels for the past 30 days are at 6.73% for COIN. The simple moving average for the past 20 days is 3.76% for COIN’s stock, with a 53.43% 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 “Neutral.” The predicted price for COIN in the upcoming period, according to BofA Securities is $217 based on the research report published on May 17, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see COIN reach a price target of $110, previously predicting the price at $92. The rating they have provided for COIN stocks is “Underperform” according to the report published on April 10th, 2024.
Barclays gave a rating of “Underweight” to COIN, setting the target price at $179 in the report published on April 08th of the current year.
COIN Trading at 6.62% 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 -13.75% of loss for the given period.
Volatility was left at 6.73%, however, over the last 30 days, the volatility rate increased by 5.41%, as shares surge +22.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.05% lower at present.
During the last 5 trading sessions, COIN rose by +0.14%, which changed the moving average for the period of 200-days by +188.67% in comparison to the 20-day moving average, which settled at $237.91. In addition, Coinbase Global Inc saw 40.58% 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 Armstrong Brian, who sale 23,075 shares at the price of $248.08 back on Jun 10 ’24. After this action, Armstrong Brian now owns 526 shares of Coinbase Global Inc, valued at $5,724,469 using the latest closing price.
WILSON FREDERICK R, the Director of Coinbase Global Inc, sale 80,539 shares at $250.09 during a trade that took place back on Jun 05 ’24, which means that WILSON FREDERICK R is holding 100,000 shares at $20,141,749 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 14.52. The receivables turnover for the company is 3.55for trailing twelve months and the total asset turnover is 0.01.
Conclusion
To sum up, Coinbase Global Inc (COIN) has seen a better performance recently. Analysts have differing views on the stock, with some seeing 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.
