Coinbase Global Inc [COIN] stock prices are up 11.36% to $229.15 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The COIN shares have gain 18.16% over the last week, with a monthly amount glided 77.70%, and seem to be holding up well over a long-time horizon.
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On 28, February 2024, Coinbase to Participate in the Morgan Stanley Technology, Media and Telecom Conference. In a post published today on Yahoo Finance, Coinbase Global, Inc. announced today that Brian Armstrong, Co-Founder and CEO, and Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Morgan Stanley Technology, Media and Telecom Conference on Wednesday, March 6, 2024 at 3:35 p.m. PT / 6:35 p.m. ET.
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.
The stock price of Coinbase Global Inc [COIN] has been fluctuating between $46.43 and $212.22 over the past year. 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 $229.15 at the most recent close of the market. An investor can expect a potential drop of -21.57% based on the average COIN price forecast.
Analyzing the COIN fundamentals
The Coinbase Global Inc [NASDAQ:COIN] reported sales of 3.11B for trailing twelve months, representing a surge of 51.61%. Gross Profit Margin for this corporation currently stands at 0.86% with Operating Profit Margin at -0.02%, Pretax Profit Margin comes in at -0.02%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.0, Equity is 0.02 and Total Capital is -0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.49.
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 215.44 points at the first support level, and at 201.74 for the second support level. However, for the 1st resistance point, the stock is sitting at 239.66, and for the 2nd resistance point, it is at 250.17.
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 17.86, the price to book ratio is 8.83 and price to earnings (TTM) ratio is 850.28.
Transactions by insiders
The next item on our agenda is insider trading, which has seen 1 insider purchases totaling 104,767 shares and 7 insider sales totaling 150,587 shares over the past 3 months. Recent insider trading involved Ehrsam Frederick Ernest III, Director, that happened on Feb 29 when 16380.0 shares were sold. Director, Ehrsam Frederick Ernest III completed a deal on Feb 28 to sell 59601.0 shares. Meanwhile, Director Haun Kathryn sold 1758.0 shares on Feb 28.
