Coinbase Global Inc (NASDAQ: COIN)’s stock price has dropped by -5.41 in relation to previous closing price of 212.64. Nevertheless, the company has seen a loss of -17.21% in its stock price over the last five trading days. reuters.com reported 2024-08-02 that The next U.S. administration will be “constructive” on crypto regardless of which party wins, Coinbase CEO Brian Armstrong said late on Thursday, underscoring the industry’s growing political influence ahead of the November election.
Is It Worth Investing in Coinbase Global Inc (NASDAQ: COIN) Right Now?
Coinbase Global Inc (NASDAQ: COIN) has a higher price-to-earnings ratio of 40.17x compared to its average ratio. COIN has 36-month beta value of 3.40. Analysts have mixed views on the stock, 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 188.35M, and currently, short sellers hold a 5.17% ratio of that float. The average trading volume of COIN on August 02, 2024 was 8.50M shares.
COIN’s Market Performance
COIN stock saw a decrease of -17.21% in the past week, with a monthly decline of -10.59% and a quarterly a decrease of -12.11%. The volatility ratio for the week is 6.99%, and the volatility levels for the last 30 days are 6.47% for Coinbase Global Inc (COIN). The simple moving average for the past 20 days is -14.21% for COIN’s stock, with a 8.81% simple moving average for the past 200 days.
Analysts’ Opinion of COIN
Many brokerage firms have already submitted their reports for COIN stocks, with Citigroup repeating the rating for COIN by listing it as a “Buy.” The predicted price for COIN in the upcoming period, according to Citigroup is $345 based on the research report published on July 23, 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 $217, previously predicting the price at $110. The rating they have provided for COIN stocks is “Neutral” according to the report published on May 17th, 2024.
BofA Securities gave a rating of “Underperform” to COIN, setting the target price at $110 in the report published on April 10th of the current year.
COIN Trading at -14.32% 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 -29.05% of loss for the given period.
Volatility was left at 6.47%, however, over the last 30 days, the volatility rate increased by 6.99%, as shares sank -8.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.94% lower at present.
During the last 5 trading sessions, COIN fell by -15.37%, which changed the moving average for the period of 200-days by +173.35% in comparison to the 20-day moving average, which settled at $233.54. In addition, Coinbase Global Inc saw 15.65% 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 EMILIE MONICA CHOI, who proposed sale 33,000 shares at the price of $224.36 back on Aug 01 ’24. After this action, EMILIE MONICA CHOI now owns shares of Coinbase Global Inc, valued at $7,403,880 using the latest closing price.
Grewal Paul, the Chief Legal Officer of Coinbase Global Inc, sale 10,000 shares at $235.75 during a trade that took place back on Jul 25 ’24, which means that Grewal Paul is holding 71,195 shares at $2,357,488 based on the most recent closing price.
Stock Fundamentals for COIN
Current profitability levels for the company are sitting at:
- 0.17 for the present operating margin
- 0.82 for the gross margin
The net margin for Coinbase Global Inc stands at 0.31. 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 0.35 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at 0.53. The interest coverage ratio of the stock is 10.31.
Currently, EBITDA for the company is 66.86 million with net debt to EBITDA at -3.05. When we switch over and look at the enterprise to sales, we see a ratio of 9.99. The receivables turnover for the company is 19.94for trailing twelve months and the total asset turnover is 0.02.
Conclusion
To put it simply, Coinbase Global Inc (COIN) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
