Coinbase Global Inc (NASDAQ: COIN)’s stock price has increased by 2.49 compared to its previous closing price of 304.64. However, the company has seen a -4.05% decrease in its stock price over the last five trading sessions. zacks.com reported 2024-11-25 that The Dow closed at a fresh new high at 44,736, +440 points on the day, and the Russell 2000 notched its first all-time closing high since 2021.
Is It Worth Investing in Coinbase Global Inc (NASDAQ: COIN) Right Now?
Coinbase Global Inc (NASDAQ: COIN) has a price-to-earnings ratio of 53.37x that is above its average ratio. Additionally, the 36-month beta value for COIN is 3.56. There are mixed opinions on the stock, with 8 analysts rating it as a “buy,” 6 rating it as “overweight,” 13 rating it as “hold,” and 1 rating it as “sell.”
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The public float for COIN is 192.90M and currently, short sellers hold a 4.57% ratio of that float. The average trading volume of COIN on November 26, 2024 was 11.75M shares.
COIN’s Market Performance
COIN stock saw an increase of -4.05% in the past week, with a monthly gain of 52.27% and a quarterly increase of 57.45%. The volatility ratio for the week is 9.37%, and the volatility levels for the last 30 days are 9.17% for Coinbase Global Inc (COIN). The simple moving average for the last 20 days is 16.73% for COIN stock, with a simple moving average of 43.03% for the last 200 days.
Analysts’ Opinion of COIN
Monness Crespi & Hardt, on the other hand, stated in their research note that they expect to see COIN reach a price target of $245. The rating they have provided for COIN stocks is “Buy” according to the report published on October 28th, 2024.
B. Riley Securities gave a rating of “Neutral” to COIN, setting the target price at $185 in the report published on October 23rd of the current year.
COIN Trading at 43.75% 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 -8.64% of loss for the given period.
Volatility was left at 9.17%, however, over the last 30 days, the volatility rate increased by 9.37%, as shares surge +44.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +93.33% upper at present.
During the last 5 trading sessions, COIN fell by -4.05%, which changed the moving average for the period of 200-days by +119.89% in comparison to the 20-day moving average, which settled at $267.46. In addition, Coinbase Global Inc saw 79.52% 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 Brian Armstrong, who proposed sale 25,000 shares at the price of $312.22 back on Nov 25 ’24. After this action, Brian Armstrong now owns shares of Coinbase Global Inc, valued at $7,805,500 using the latest closing price.
Fred Ehrsam, the Director of Coinbase Global Inc, proposed sale 26,649 shares at $312.22 during a trade that took place back on Nov 25 ’24, which means that Fred Ehrsam is holding shares at $8,320,351 based on the most recent closing price.
Stock Fundamentals for COIN
Current profitability levels for the company are sitting at:
- 0.28 for the present operating margin
- 0.86 for the gross margin
The net margin for Coinbase Global Inc stands at 0.32. The total capital return value is set at 0.11. Equity return is now at value 21.30, with 0.75 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 0.35. The debt to equity ratio resting at 0.52. The interest coverage ratio of the stock is 17.47.
Currently, EBITDA for the company is -74.53 million with net debt to EBITDA at -2.17. When we switch over and look at the enterprise to sales, we see a ratio of 15.2. The receivables turnover for the company is 40.18for trailing twelve months and the total asset turnover is 0.02.
Conclusion
In conclusion, Coinbase Global Inc (COIN) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
