In the past week, COIN stock has gone up by 8.85%, with a monthly gain of 25.65% and a quarterly plunge of -17.04%. The volatility ratio for the week is 6.19%, and the volatility levels for the last 30 days are 5.78% for Coinbase Global Inc The simple moving average for the past 20 days is 17.52% for COIN’s stock, with a 5.34% simple moving average for the past 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 38.45x compared to its average ratio, The 36-month beta value for COIN is at 3.37. Analysts have varying views on the stock, with 8 analysts rating it as a “buy,” 6 rating it as “overweight,” 13 as “hold,” and 2 as “sell.”
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The public float for COIN is 191.42M, and currently, shorts hold a 5.79% of that float. The average trading volume for COIN on October 22, 2024 was 8.17M shares.
COIN) stock’s latest price update
Coinbase Global Inc (NASDAQ: COIN)’s stock price has plunge by -2.95relation to previous closing price of 220.21. Nevertheless, the company has seen a 8.85% surge in its stock price over the last five trading sessions. zacks.com reported 2024-10-21 that Coinbase’s efforts to accelerate growth, increase market share and continue innovation poise it well for growth, but its weak return on capital keeps us cautious.
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 18.23% 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 -24.61% of loss for the given period.
Volatility was left at 5.78%, however, over the last 30 days, the volatility rate increased by 6.19%, as shares surge +25.56% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.88% upper at present.
During the last 5 trading sessions, COIN rose by +8.85%, which changed the moving average for the period of 200-days by +37.35% in comparison to the 20-day moving average, which settled at $181.86. In addition, Coinbase Global Inc saw 22.88% 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 Rajaram Gokul, who sale 400 shares at the price of $204.44 back on Oct 16 ’24. After this action, Rajaram Gokul now owns 7,771 shares of Coinbase Global Inc, valued at $81,776 using the latest closing price.
HAAS ALESIA J, the Chief Financial Officer of Coinbase Global Inc, sale 5,250 shares at $195.25 during a trade that took place back on Oct 15 ’24, which means that HAAS ALESIA J is holding 169,786 shares at $1,025,083 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 10.5. The receivables turnover for the company is 6.86for trailing twelve months and the total asset turnover is 0.02.
Conclusion
In conclusion, Coinbase Global Inc (COIN) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
