At the time of writing, Coinbase Global Inc [COIN] stock is trading at $193.94, up 16.85%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The COIN shares have gain 7.56% over the last week, with a monthly amount glided 60.27%, and seem to be holding up well over a long-time horizon.
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On 15, February 2024, Coinbase Releases Fourth Quarter and Full Year 2023 Shareholder Letter. In a post published today on Yahoo Finance, Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today the release of its fourth quarter and full year 2023 shareholder letter. The letter, including the Company’s financial results, can be found on its Investor Relations website at investor.coinbase.com.
From an analyst’s perspective:
Coinbase Global Inc [NASDAQ: COIN] stock has seen the most recent analyst activity on February 16, 2024, when Keefe Bruyette upgraded its rating to a Mkt Perform but kept the price target unchanged to $160 for it. Previously, JP Morgan upgraded its rating to Neutral on February 15, 2024, and kept the price target unchanged to $80. On January 23, 2024, downgrade downgraded it’s rating to Underweight but maintained its price target of $80 on the stock. JMP Securities reiterated its Mkt Outperform rating and increased its price target to $200 on December 22, 2023. Canaccord Genuity reiterated its recommendation of a Buy and raised its price target to $140 on August 01, 2023. Compass Point reiterated a Buy rating for this stock on July 19, 2023, and upped its price target to $145. In a note dated July 14, 2023, Needham reiterated an Buy rating on this stock and boosted its target price from $70 to $120.
For the past year, the stock price of Coinbase Global Inc fluctuated between $46.43 and $193.64. Currently, Wall Street analysts expect the stock to reach $179.73 within the next 12 months. Coinbase Global Inc [NASDAQ: COIN] shares were valued at $193.94 at the most recent close of the market. An investor can expect a potential drop of -7.33% based on the average COIN price forecast.
Analyzing the COIN fundamentals
According to Coinbase Global Inc [NASDAQ:COIN], the company’s sales were 3.11B for trailing twelve months, which represents an 51.61% jump. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 175.91 points at the first support level, and at 157.88 for the second support level. However, for the 1st resistance point, the stock is sitting at 204.46, and for the 2nd resistance point, it is at 214.98.
Coinbase Global Inc [COIN] reported earnings per share of -$0.03 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.01/share, meaning a difference of -$0.02 and a surprise factor of -200.00%.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 15.12, the price to book ratio is 7.47 and price to earnings (TTM) ratio is 719.63.
Transactions by insiders
Insider trading has also been a hot topic recently, with 1 insiders purchasing 104,767 shares and 7 selling 150,587 shares in the past 3 months. Recent insider trading involved Jones Jennifer N., CHIEF ACCOUNTING OFFICER, that happened on Feb 20 when 290.0 shares were sold. Director, Ehrsam Frederick Ernest III completed a deal on Feb 16 to sell 61145.0 shares. Meanwhile, Director Rajaram Gokul sold 1145.0 shares on Feb 15.
