As of September 19, 2023, there have been intriguing signs of activity surrounding Coinbase Glb, indicating the involvement of significant investors. Over the past three months, these investors, commonly referred to as whales, have shown a particular interest in a price range spanning from $35.0 to $120.0. However, the available information does not allow for a precise determination of a specific price target.
Upon closer examination, it becomes evident that both bullish and bearish trades have been observed among the notable options. These trades exhibit varying expiration dates and strike prices, adding further complexity to the situation.
On September 19, 2023, the price of COIN stands at $80.37, experiencing a decline of -1.52%. Interestingly, the RSI indicator suggests that the underlying stock may be approaching an overbought condition, raising potential concerns.
Regarding the options market for Coinbase Glb on this day, the mean open interest is recorded at 1131.12, indicating the average number of contracts held by market participants. The total volume of options traded reaches 13,098.00, reflecting the overall level of activity in this market segment.
Coinbase Global, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
7:00 PM (UTC)
Date:19 September, 2023
|Analyst / firm||Rating|
Coinbase Global Inc. (COIN) Stock Performance and Financial Outlook
Coinbase Global Inc. (COIN) is a leading cryptocurrency exchange and brokerage firm. On September 19, 2023, the stock opened at $82.20, slightly higher than the previous day’s closing price of $81.61. Throughout the day, the stock experienced a range of $77.79 to $82.37. The trading volume for the day was 377,782 shares, significantly lower than the average volume of 13,185,057 shares over the past three months. The market capitalization of COIN stood at $19.5 billion.
Earnings growth is a crucial factor for evaluating a company’s financial performance. In the previous year, COIN witnessed a significant decline in earnings growth, with a negative growth rate of -182.78%. However, the company has shown resilience and is expected to bounce back with a positive earnings growth rate of +78.19% this year. Looking ahead, COIN’s earnings growth is projected to be +5.24% over the next five years.
Revenue growth is another important metric for assessing a company’s financial health. Unfortunately, COIN experienced a decline in revenue growth of -59.25% in the last year. This decline could be attributed to the volatility in the cryptocurrency market during that period. Despite this setback, the company has managed to maintain a strong market position.
COIN’s price-to-earnings (P/E) ratio is listed as NM, which means it is not meaningful. This could be due to the company’s negative earnings in the previous year. However, the price-to-sales ratio is 2.46, indicating that investors are willing to pay $2.46 for every dollar of COIN’s sales. The price-to-book ratio is 3.48, suggesting that investors value COIN’s assets at 3.48 times its book value.
It is worth noting that no competitor data is available for COIN, which could be due to its unique position as a leading cryptocurrency exchange. This lack of competition may provide COIN with a competitive advantage in the market.
COIN’s next reporting date is set for November 7, 2023, when the company will release its financial results for the current quarter. Analysts are forecasting an earnings per share (EPS) of -$0.70 for this quarter.
In the previous fiscal year, COIN reported annual revenue of $3.2 billion. However, the company also reported a net loss of -$2.6 billion, resulting in a net profit margin of -82.18%. This negative margin indicates that COIN’s expenses exceeded its revenue.
COIN operates in the finance sector, specifically in the investment banks/brokers industry. While no executives are displayed, the company’s corporate headquarters are listed as unknown.
In conclusion, COIN’s stock performance on September 19, 2023, showed a slight increase in the opening price compared to the previous day’s close. The stock experienced a range of prices throughout the day, and the trading volume was relatively low. COIN has faced challenges in terms of earnings and revenue growth, but it is expected to rebound in the coming years. The lack of competitor data suggests that COIN has a unique position in the market. Investors will be eagerly awaiting the next reporting date to assess COIN’s financial performance.
Coinbase Global Inc Stock Performance Influenced by Analyst Forecasts: Median Target Price at $85.00
On September 19, 2023, Coinbase Global Inc’s stock performance was influenced by the 12-month price forecasts provided by 22 analysts. According to these forecasts, the median target price for Coinbase Global Inc was $85.00, with a high estimate of $200.00 and a low estimate of $27.00. This median estimate represented an increase of 8.81% from the last recorded price of $78.12.
The consensus among 28 polled investment analysts was to hold stock in Coinbase Global Inc, a rating that has remained steady since August. This suggests that the analysts do not expect any significant changes in the company’s performance or market conditions in the near future.
It is important to note that these forecasts and ratings are based on the information available at the time and are subject to change as new information becomes available. Investors should always consider conducting their own research and analysis before making any investment decisions.
In terms of the company’s financial performance, Coinbase Global Inc reported earnings per share of -$0.70 for the current quarter. This indicates that the company incurred a loss during this period. However, it is worth noting that earnings per share can be influenced by various factors, and it is important to consider the overall financial health and performance of the company.
On the sales front, Coinbase Global Inc reported sales of $670.6 million for the current quarter. This indicates that the company generated a significant amount of revenue during this period. Sales figures are important indicators of a company’s ability to generate income and sustain its operations.
Investors should keep an eye on Coinbase Global Inc’s upcoming reporting date, which is scheduled for November 7. This report will provide more detailed information about the company’s financial performance and may have an impact on its stock performance.
In conclusion, on September 19, 2023, Coinbase Global Inc’s stock performance was influenced by the 12-month price forecasts provided by analysts, which indicated a median target price of $85.00. The consensus among investment analysts was to hold the stock, and the company reported a loss in earnings per share but generated significant sales revenue. Investors should continue to monitor the company’s financial performance and upcoming reporting date for more information.