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Coinbase Global Inc. (NASDAQ:COIN) Has Recovered 10.88% So Far, But Another -338.89% Loss Cannot Be Ruled Out

In last trading session, Coinbase Global Inc. (NASDAQ:COIN) saw 14.6 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $45.57 trading at $2.18 or 5.02% at ring of the bell on the day assigns it a market valuation of $11.15B. That closing price of COIN’s stock is at a discount of -627.89% from its 52-week high price of $331.70 and is indicating a premium of 10.88% from its 52-week low price of $40.61. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 21.22 million shares which gives us an average trading volume of 13.62 million if we extend that period to 3-months.

For Coinbase Global Inc. (COIN), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 29 analysts covering the stock, 5 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 12 suggested the stock as a Hold whereas 11 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.01 in the current quarter.

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Coinbase Global Inc. (NASDAQ:COIN) trade information

Upright in the green during last session for gaining 5.02%, in the last five days COIN remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $45.57 price level, adding 8.81% to its value on the day. Coinbase Global Inc.’s shares saw a change of -81.94% in year-to-date performance and have moved -6.68% in past 5-day. Coinbase Global Inc. (NASDAQ:COIN) showed a performance of -39.28% in past 30-days. Number of shares sold short was 26.35 million shares which calculate 2.38 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $75.68 to the stock, which implies a rise of 39.79% to its current value. Analysts have been projecting $41.00 as a low price target for the stock while placing it at a high target of $200.00. It follows that stock’s current price would drop -338.89% in reaching the projected high whereas dropping to the targeted low would mean a gain of 10.03% for stock’s current value.

Coinbase Global Inc. (COIN) estimates and forecasts

Statistics highlight that Coinbase Global Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -32.16% of value to its shares in past 6 months, showing an annual growth rate of -178.76% while that of industry is 4.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. This year revenue growth is estimated to rise 25.60% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $470k for the same. And 1 analysts are in estimates of company making revenue of $820k in the next quarter that will end on Dec 2022.

COIN Dividends

Coinbase Global Inc. is more likely to be releasing its next quarterly report on November 03 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 1.80% of company’s total shares while institution are holding 58.90 percent of that, with stock having share float percentage of 59.98%. Investors also watch the number of corporate investors in a company very closely, which is 58.90% institutions for Coinbase Global Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at COIN for having 12.79 million shares of worth $582.67 million. And as of Sep 29, 2022, it was holding 7.15% of the company’s outstanding shares.

The second largest institutional holder is AH Equity Partners III, L.L.C., which was holding about 10.86 million shares on Sep 29, 2022. The number of shares represents firm’s hold over 6.07% of outstanding shares, having a total worth of $495.09 million.

On the other hand, ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Oct 30, 2022, the former fund manager was holding 4.84 million shares of worth $220.66 million or 2.71% of the total outstanding shares. The later fund manager was in possession of 4.09 million shares on Jun 29, 2022, making its stake of worth around $186.26 million in the company or a holder of 2.29% of company’s stock.

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