As of September 19, 2023, the U.S. Securities and Exchange Commission (SEC) is taking aggressive measures against crypto platforms and decentralized finance (DeFi) entities that it believes are violating securities regulations. This crackdown is reminiscent of the actions taken against major exchanges like Coinbase Global Inc. and Binance. David Hirsch, the head of the SEC’s Crypto Assets and Cyber Unit, has made it clear that their concerns go beyond just the well-known exchanges. The SEC’s enforcement efforts are set to revolutionize the functioning of cryptocurrency markets, and to support this, the agency has announced a significant increase in staffing for its cryptocurrency enforcement unit. Here are some key takeaways:
– The SEC’s enforcement actions are not limited to high-profile exchanges such as Coinbase and Binance. They are also targeting other firms that operate similarly.
– The SEC is undeterred by the challenges it faces in its crypto-related cases and is actively investigating intermediaries in the crypto domain, including brokers, dealers, and exchanges.
– The SEC is not deterred by the label of DeFi and will continue to pursue its work in this area.
– The SEC has expanded its Cyber Unit, increasing its staff from 30 to 50, and renamed it the Crypto Assets and Cyber Unit to strengthen the enforcement of cryptocurrency regulations.
– The growing number of settlements reached by the SEC with industry players indicates the agency’s recognition of crypto businesses that comply with securities laws.
Coinbase Global, Inc.
Updated on: 25/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
1:00 PM (UTC)
Date:25 September, 2023
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COIN Stock Analysis: Mixed Performance, Positive Earnings Growth, and Future Forecasts
On September 19, 2023, COIN, the stock of a leading investment bank/broker, experienced a mixed performance. COIN’s previous close on September 18, 2023, was $81.61. The stock opened at $82.20 on September 19, indicating a slight increase from the previous close. Throughout the day, COIN’s stock price fluctuated within a range of $77.79 to $82.37. The trading volume for COIN on September 19 was 377,878 shares. COIN’s market capitalization stood at $19.5 billion. When considering the earnings growth, COIN exhibited a significant decline of -182.78% in the previous year. However, the company managed to rebound with a positive earnings growth of +78.19% in the current year. Looking ahead, analysts forecast a modest earnings growth of +5.24% for the next five years. The revenue growth for COIN in the previous year was -59.25%. COIN’s P/E ratio is listed as NM. The price/sales ratio of 2.46 suggests that investors are willing to pay $2.46 for every dollar of COIN’s sales. The price/book ratio of 3.48 indicates that the stock is trading at a premium compared to its book value. The next reporting date for COIN is scheduled for November 7, 2023. The EPS forecast for the current quarter is -$0.70. In the previous year, COIN reported annual revenue of $3.2 billion and a net profit of -$2.6 billion. COIN operates in the finance sector, specifically in the investment banks/brokers industry.
Coinbase Global Inc (COIN) Stock Predicted to Perform Well in September 2023: Analysts Forecast and Insights
On September 19, 2023, Coinbase Global Inc (COIN) stock is expected to perform well, according to analysts’ predictions. The 22 analysts who have offered 12-month price forecasts for COIN have a median target price of $85.00. This represents an estimated 8.81% increase from the last recorded price of $78.12. The high estimate for COIN’s stock price is $200.00, while the low estimate is $27.00.
These predictions suggest that analysts are generally optimistic about the future performance of COIN stock. The median estimate of $85.00 indicates that they expect the stock to increase in value over the next 12 months. However, it is important to note that these forecasts are based on various factors and market conditions, and there is always a level of uncertainty involved in predicting stock prices.
According to CNN Money, the current consensus among 28 polled investment analysts is to hold stock in Coinbase Global Inc. This rating has remained steady since August. This suggests that analysts are not recommending buying or selling COIN stock at the moment, but rather holding onto existing positions.
COIN’s sales for the current quarter were reported at $670.6 million. This figure represents the total revenue generated by the company during this period.
Investors and market participants will be eagerly awaiting the next reporting date for Coinbase Global Inc, which is scheduled for November 7. This report will provide further insights into the company’s financial performance and may have an impact on the future performance of COIN stock.
In conclusion, based on the information provided by CNN Money, analysts predict a positive increase in COIN stock performance on September 19, 2023. The median target price of $85.00 suggests an estimated 8.81% increase from the last recorded price. However, it is important to consider other factors and market conditions before making any investment decisions.