Coinbase Global Inc (NASDAQ:COIN) price on current trading day, rose 0.22% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $212.96.
A look at the stock’s price movement, the close in the last trading session was $212.49. The PE ratio in trailing twelve months stood at 22.44. Turning to its 52-week performance, $349.75 and $146.12 were the 52-week high and 52-week low respectively. Overall, COIN moved -23.39% over the past month.
Coinbase Global Inc’s market cap currently stands at around $54.07 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 2.22B for the company’s revenue for the quarter, with a low and high estimate of 1.99B and 2.59B respectively. The average forecast suggests up to a 35.69% 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 8.05B, representing a 22.62% 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 50% Sell 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 -20.10% and -22.31% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 30.27, while 7-day volatility ratio is 8.00% and 5.88% in the 30-day chart. Further, Coinbase Global Inc (COIN) has a beta value of 3.67, and an average true range (ATR) of 17.55. Analysts have given the company’s stock an average 52-week price target of $292.5, forecast between a low of $169 and high of $420. Looking at the price targets, the low is 20.64% off current price level while to achieve the yearly target high, price needs to move -97.22%. Nonetheless, investors will most likely welcome a -37.35% jump to $292.5 which is the analysts’ median price.
If we refocus on Coinbase Global Inc (NASDAQ:COIN), historical trading data shows that trading volumes averaged 9.63 million over the past 3 months. The company’s latest data on shares outstanding shows there are 209.76 million shares.
The 21.33% of Coinbase Global Inc’s shares are in the hands of company insiders while institutional holders own 45.86% of the company’s shares. Current price change has pushed the stock -14.23% 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.
