Coinbase Global Inc (NASDAQ:COIN) shares, rose in value on Thursday, January 02, with the stock price up by 2.85% to the previous day’s close as strong demand from buyers drove the stock to $255.37.
Actively observing the price movement in the recent trading, the stock is buoying the session at $248.30, falling within a range of $251.0 and $262.31. The value of beta (5-year monthly) is 3.343 whereas the PE ratio is 43.65 over 12-month period. Referring to stock’s 52-week performance, its high was $349.75, and the low was $114.51. On the whole, COIN has fluctuated by -15.55% over the past month.
With the market capitalization of Coinbase Global Inc currently standing at about $63.93 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.81B, with a low estimate of 1.15B and a high estimate of 2.15B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.58B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that COIN’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of COIN currently trading nearly -12.72% and -7.16% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.91, while the 7-day volatility ratio is showing 4.76% which for the 30-day chart, stands at 6.40%. Furthermore, Coinbase Global Inc (COIN)’s beta value is 3.60, and its average true range (ATR) is 19.61.
A comparison of Coinbase Global Inc (COIN) with its peers suggests the former has fared considerably weaker in the market. COIN showed an intraday change of 2.85% in today’s session so far, and over the past year, it grew by 62.78%%.
Data on historical trading for Coinbase Global Inc (NASDAQ:COIN) indicates that the trading volumes over the past 10 days have averaged 7.65 and over the past 3 months, they’ve averaged 13.15 million. According to company’s latest data on outstanding shares, there are 204.85 million shares outstanding.
Nearly 22.90% of Coinbase Global Inc’s shares belong to company insiders and institutional investors own 42.78% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.21 million shares as on 2024-12-13, resulting in a short ratio of 0.53. According to the data, the short interest in Coinbase Global Inc (COIN) stood at 406.00 of shares outstanding as of 2024-12-13; the number of short shares registered in 2024-11-15 reached 9.18 million. The stock has risen by 2.85% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the COIN stock heading into the next quarter.
