Coinbase Global Inc [COIN] stock prices are up 6.68% to $256.99 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The COIN shares have gain 1.94% over the last week, with a monthly amount glided 5.92%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, Coinbase obtains registration as a Restricted Dealer in Canada. In a post published today on Yahoo Finance, Coinbase is now the first international and largest cryptocurrency exchange to be registered in Canada.
From an analyst’s perspective:
Coinbase Global Inc [NASDAQ: COIN] stock has seen the most recent analyst activity on April 08, 2024, when Barclays reiterated its Underweight rating and also boosted its price target to $179 from $146. Previously, Oppenheimer reaffirmed its Outperform rating on April 04, 2024, and elevated its price target to $276. On April 03, 2024, Keefe Bruyette reiterated its Mkt Perform rating and revised its price target to $230 on the stock. Raymond James upgraded its rating to a Mkt Perform. Goldman upgraded its rating to a Neutral but $282 remained the price target by the analyst firm on March 08, 2024. Keefe Bruyette upgraded its rating to Mkt Perform for this stock on February 16, 2024, but kept the price target unchanged to $160. In a note dated February 15, 2024, JP Morgan upgraded an Neutral rating on this stock but restated the target price of $80.
The stock price of Coinbase Global Inc [COIN] has been fluctuating between $46.43 and $283.48 over the past year. Currently, Wall Street analysts expect the stock to reach $204.92 within the next 12 months. Coinbase Global Inc [NASDAQ: COIN] shares were valued at $256.99 at the most recent close of the market. An investor can expect a potential drop of -20.26% 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 250.57 points at the first support level, and at 244.15 for the second support level. However, for the 1st resistance point, the stock is sitting at 262.52, and for the 2nd resistance point, it is at 268.05.
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 20.03, the price to book ratio is 9.90 and price to earnings (TTM) ratio is 953.58.
Transactions by insiders
Recent insider trading involved Armstrong Brian, Chairman and CEO, that happened on Apr 04 ’24 when 23075.0 shares were sold. Director, Ehrsam Frederick Ernest III completed a deal on Apr 02 ’24 to sell 16380.0 shares. Meanwhile, President & COO Choi Emilie sold 8000.0 shares on Apr 01 ’24.
