Is Coinbase Global Inc. (NASDAQ: COIN) Still A Buy After A -1.44% Weekly Drop? – Marketing Sentinel
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Is Coinbase Global Inc. (NASDAQ: COIN) Still A Buy After A -1.44% Weekly Drop?

During the recent session, Coinbase Global Inc. (NASDAQ:COIN)’s traded shares were 2.01 million. At the last check today, the stock’s price was $257.90, reflecting an intraday gain of 4.51% or $11.12. The 52-week high for the COIN share is $429.54, that puts it down -66.55 from that peak though still a striking 19.35% gain since the share price plummeted to a 52-week low of $208.00. The company’s market capitalization is $52.78B, and the average intraday trading volume over the past 10 days was 3.65 million shares, and the average trade volume was 3.87 million shares over the past three months.

Coinbase Global Inc. (COIN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.10. COIN has a Sell rating from 1 analyst(s) out of 25 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 15 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.37.

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Coinbase Global Inc. (NASDAQ:COIN) trade information

Coinbase Global Inc. (COIN) registered a 4.51% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 4.51% in intraday trading to $257.90 this Wednesday, 10/13/21, hitting a weekly high. The stock’s 5-day price performance is -1.44%, and it has moved by 1.56% in 30 days. The short interest in Coinbase Global Inc. (NASDAQ:COIN) is 4.62 million shares and it means that shorts have 1.32 day(s) to cover.

The consensus price target of analysts on Wall Street is $373.79, which implies an increase of 31.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $220.00 and $743.00 respectively. As a result, COIN is trading at a discount of -188.1% off the target high and 14.7% off the low.

Revenue for the current quarter is expected to be $1.45 billion as predicted by 18 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to $1.52 billion by the end of Dec 2021.

While earnings are projected to return 519.50% in 2021, the next five years will return 66.30% per annum.

COIN Dividends

Coinbase Global Inc. is due to release its next quarterly earnings on May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Coinbase Global Inc. (NASDAQ:COIN)’s Major holders

Coinbase Global Inc. insiders own 1.84% of total outstanding shares while institutional holders control 28.22%, with the float percentage being 28.75%. ARK Investment Management, LLC is the largest shareholder of the company, while 662 institutions own stock in it. As of Jun 29, 2021, the company held over 5.62 million shares (or 3.72% of all shares), a total value of $1.42 billion in shares.

The next largest institutional holding, with 5.14 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 3.40% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $1.3 billion.

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Also, the Mutual Funds coming in first place with the largest holdings of Coinbase Global Inc. (COIN) shares are ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Next Generation Internet ETF. Data provided on Jun 29, 2021 indicates that ARK ETF Tr-ARK Innovation ETF owns about 3.66 million shares. This amounts to just over 2.42 percent of the company’s overall shares, with a $926.16 million market value. The same data shows that the other fund manager holds slightly less at 0.88 million, or about 0.58% of the stock, which is worth about $222.59 million.

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