Coinbase Global Inc (NASDAQ:COIN) price on Wednesday, February 05, fall -1.87% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $275.14.
A look at the stock’s price movement, the close in the last trading session was $280.39, moving within a range at $274.7425 and $285.76. The beta value (5-Year monthly) was 3.343 while the PE ratio in trailing twelve months stood at 47.03. Turning to its 52-week performance, $349.75 and $114.51 were the 52-week high and 52-week low respectively. Overall, COIN moved 1.66% over the past month.
Coinbase Global Inc’s market cap currently stands at around $68.88 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 1.7B for the company’s revenue for the quarter, with a low and high estimate of 1.15B and 2.47B respectively. The average forecast suggests up to a 78.63% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.97B, representing a 92.07% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that COIN is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
37 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 11 analyst(s) rate the stock as a Hold, 23 recommend COIN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
COIN’s current price about -1.90% and -4.77% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 46.46, while 7-day volatility ratio is 5.14% and 5.89% in the 30-day chart. Further, Coinbase Global Inc (COIN) has a beta value of 3.62, and an average true range (ATR) of 17.55. Analysts have given the company’s stock an average 52-week price target of $245, forecast between a low of $169 and high of $380. Looking at the price targets, the low is 38.58% off current price level while to achieve the yearly target high, price needs to move -38.11%. Nonetheless, investors will most likely welcome a 10.95% jump to $245 which is the analysts’ median price.
If we refocus on Coinbase Global Inc (NASDAQ:COIN), historical trading data shows that trading volumes averaged 8.17 over the past 10 days and 12.39 million over the past 3 months. The company’s latest data on shares outstanding shows there are 204.85 million shares.
The 22.90% of Coinbase Global Inc’s shares are in the hands of company insiders while institutional holders own 42.41% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.19 million on 2025-01-15, giving us a short ratio of 1.05. The data shows that as of 2025-01-15 short interest in Coinbase Global Inc (COIN) stood at 405.0 of shares outstanding, with shares short falling to 8.21 million registered in 2024-12-13. Current price change has pushed the stock 10.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the COIN stock continues to rise going into the next quarter.
