The trading price of Coinbase Global Inc (NASDAQ:COIN) closed higher on Monday, October 28, and closing at $216.10, 5.39% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $210.9701 and $218.0. The company’s P/E ratio in the trailing 12-month period was 38.88, while its 5Y monthly beta was 3.352. In examining the 52-week price action we see that the stock hit a 52-week high of $283.48 and a 52-week low of $70.42. Over the past month, the stock has gained 13.01% in value.
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Coinbase Global Inc, whose market valuation is $53.70 billion at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.43 per share this quarter, however they have predicted annual earnings per share of 5.63 for current year and 3.9 for next year.
Analysts have forecast the company to bring in revenue of 1.25B for the current quarter, with the likely lows of 1.17B and highs of 1.34B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 5.68B.
On the technical side, indicators suggest COIN has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned COIN a recommendation rating is 37. Out of them, 11 rate it a Hold, while 23 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Coinbase Global Inc (COIN) as Underweight, while 3 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that COIN’s price is currently 14.07% off the SMA20 and 18.87% off the SMA50. The RSI metric on the 14-day chart is currently showing 62.24, and weekly volatility stands at 5.08%. When measured over the past 30 days, the indicator reaches 5.75%. Coinbase Global Inc (NASDAQ:COIN)’s beta value is currently sitting at 3.35, while the Average True Range indicator is currently displaying 11.75. With analysts defining $11-$875 as the low and high price targets, we arrive at a consensus price target of $268.5 for the trailing 12-month period. The current price is about 94.91% off the estimated low and -304.91% off the forecast high, based on this estimate. Investors will be thrilled if COIN’s share price rises to $268.5, which is the median consensus price. At that level, COIN’s share price would be -24.25% below current price.
To see how Coinbase Global Inc stock has been performing in comparison to its peers in the industry, here are the numbers: COIN stock’s performance was 5.39% in the latest trading, and 189.64% in the past year. Coinbase Global Inc has a P/E ratio of 38.88.
An evaluation of the daily trading volume of Coinbase Global Inc (NASDAQ:COIN) indicates that the 3-month average is 8.18 million. However, this figure has increased over the past 10 days to an average of 11.38.
Currently, records show that 195.19 million of the company’s shares remain outstanding. The insiders hold 22.96% of outstanding shares, whereas institutions hold 42.37%. The stats also highlight that short interest as of 2024-10-15, stood at 9.83 million shares, resulting in a short ratio of 1.15 at that time. From this, we can conclude that short interest is 490.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 8.65 million. However, since the stock’s price has seen 24.25% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
