With over 11.65 million Coinbase Global Inc (COIN) shares trading Friday and a closing price of $115.60 on the day, the dollar volume was approximately $1.35 billion. The shares have shown a positive half year performance of 103.27% and its price on 11/24/23 gained nearly 5.81%. Currently, there are 182.80M common shares owned by the public and among those 167.46M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for COIN have a consensus price objective of $86.24. The analysts have set the share’s price value over the next 12 months at a high of $150.00 and a low of $31.00. The average price target is -34.04% below its recent price level and a downside to the estimated low will see the stock lose -272.9% over that period. But an upside of 22.93% will see the stock hit the forecast high price target while median target price for the stock is $80.00.
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Insiders at the company have transacted a total of 177 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 79 of these insider trades were purchases, accounting for 783,591 shares. Insider sales of the common stock occurred on 98 occasions, with total insider shares sold totaling 650,039 shares.
Shares of Coinbase Global Inc (NASDAQ: COIN) opened at $108.45, down -$0.8 from a prior closing price of $109.25. However, the script later moved the day high at 116.94, up 5.81%. The company’s stock has a 5-day price change of 19.27% and 55.67% over the past three months. COIN shares are trading 226.65% year to date (YTD), with the 12-month market performance up to 166.42% higher. It has a 12-month low price of $31.55 and touched a high of $114.43 over the same period. COIN has an average intraday trading volume of 8.33 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 28.91%, 41.83%, and 58.84% respectively.
Institutional ownership of Coinbase Global Inc (NASDAQ: COIN) shares accounts for 40.10% of the company’s 182.80M shares outstanding.
It has a market capitalization of $27.66B and a beta (3y monthly) value of 2.86. The earnings-per-share (ttm) stands at -$3.23. The company has a debt-to-equity ratio at 0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.12% over the week and 6.07% over the month.
Analysts forecast that Coinbase Global Inc (COIN) will achieve an EPS of $0 for the current quarter, -$0.01 for the next quarter and -$0.02 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 91.31%, and 45.92% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Coinbase Global Inc (COIN) as a “Moderate Buy” at a consensus score of 2.93. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 11 of the 27 advise that investors “hold,” and 6 rated it as a “Sell.”
Looking at the support for the COIN, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on August 01, 2023, with the firm’s price target at $70-$140.
