Coinbase Global Inc (COIN): A Great Stock For Handling Current Market Conditions?

Currently, there are 195.19M common shares owned by the public and among those 191.42M shares have been available to trade.

The company’s stock has a 5-day price change of 1.11% and -3.72% over the past three months. COIN shares are trading 24.25% year to date (YTD), with the 12-month market performance up to 189.64% higher. It has a 12-month low price of $70.42 and touched a high of $283.48 over the same period. COIN has an average intraday trading volume of 8.18 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 14.07%, 18.87%, and 5.78% respectively.

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Institutional ownership of Coinbase Global Inc (NASDAQ: COIN) shares accounts for 42.37% of the company’s 195.19M shares outstanding.

It has a market capitalization of $53.70B and a beta (3y monthly) value of 3.35. The stock’s trailing 12-month PE ratio is 38.88, while the earnings-per-share (ttm) stands at $5.56. The company has a debt-to-equity ratio at 0.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.08% over the week and 5.75% over the month.

Earnings per share for the fiscal year are expected to increase by 1413.45%, and -19.91% over the next financial year.

Looking at the support for the COIN, a number of firms have released research notes about the stock. Monness Crespi & Hardt stated their Buy rating for the stock in a research note on Oct-29-24, with the firm’s price target at $245. B. Riley Securities coverage for the Coinbase Global Inc (COIN) stock in a research note released on October 23, 2024 offered a Neutral rating with a price target of $185. Barclays was of a view on September 06, 2024 that the stock is Equal Weight, while Citigroup gave the stock Buy rating on July 23, 2024, issuing a price target of $260- $345. BofA Securities on their part issued Neutral rating on May 17, 2024.

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