The stock of Coinbase Global Inc (COIN) has gone up by 22.68% for the week, with a 28.62% rise in the past month and a -18.39% drop in the past quarter. The volatility ratio for the week is 7.96%, and the volatility levels for the past 30 days are 5.75% for COIN. The simple moving average for the last 20 days is 20.56% for COIN’s stock, with a simple moving average of 6.82% for the last 200 days.
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 38.93x compared to its average ratio. COIN has 36-month beta value of 3.36. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 6 as “overweight,” 13 as “hold,” and 2 as “sell.”
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The public float for COIN is 191.41M, and currently, short sellers hold a 5.79% ratio of that float. The average trading volume of COIN on October 18, 2024 was 8.10M shares.
COIN) stock’s latest price update
The stock price of Coinbase Global Inc (NASDAQ: COIN) has jumped by 5.97 compared to previous close of 204.20. Despite this, the company has seen a gain of 22.68% in its stock price over the last five trading days. fool.com reported 2024-10-18 that Crypto prices are up, but the bigger news may be the innovation coming to the blockchain.
Analysts’ Opinion of COIN
Many brokerage firms have already submitted their reports for COIN stocks, with Barclays repeating the rating for COIN by listing it as a “Equal Weight.” The predicted price for COIN in the upcoming period, according to Barclays is $169 based on the research report published on September 06, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see COIN reach a price target of $345, previously predicting the price at $260. The rating they have provided for COIN stocks is “Buy” according to the report published on July 23rd, 2024.
BofA Securities gave a rating of “Neutral” to COIN, setting the target price at $217 in the report published on May 17th of the current year.
COIN Trading at 19.99% 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 -23.67% of loss for the given period.
Volatility was left at 5.75%, however, over the last 30 days, the volatility rate increased by 7.96%, as shares surge +26.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.16% upper at present.
During the last 5 trading sessions, COIN rose by +22.30%, which changed the moving average for the period of 200-days by +41.69% in comparison to the 20-day moving average, which settled at $179.46. In addition, Coinbase Global Inc saw 24.42% 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 HAAS ALESIA J, who sale 5,250 shares at the price of $195.25 back on Oct 15 ’24. After this action, HAAS ALESIA J now owns 169,786 shares of Coinbase Global Inc, valued at $1,025,083 using the latest closing price.
Choi Emilie, the President & COO of Coinbase Global Inc, sale 1,500 shares at $181.36 during a trade that took place back on Oct 14 ’24, which means that Choi Emilie is holding 176,601 shares at $272,040 based on the most recent closing price.
Stock Fundamentals for COIN
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.81 for the gross margin
The net margin for Coinbase Global Inc stands at 0.32. The total capital return value is set at 0.06. Equity return is now at value 20.99, with 0.70 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 0.35. The debt to equity ratio resting at 0.53. The interest coverage ratio of the stock is 9.49.
Currently, EBITDA for the company is 66.86 million with net debt to EBITDA at -4.34. When we switch over and look at the enterprise to sales, we see a ratio of 10.58. The receivables turnover for the company is 6.86for trailing twelve months and the total asset turnover is 0.02.
Conclusion
To put it simply, Coinbase Global Inc (COIN) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
