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An In-Depth Look At The Coinbase Global Inc. (COIN) Stock

Coinbase Global Inc. (NASDAQ:COIN) has seen 17.67 million shares traded in the last trading session. The company, currently valued at $11.38B, closed the last trade at $55.96 per share which meant it gained $0.8 on the day or 1.45% during that session. The COIN stock price is -288.65% off its 52-week high price of $217.49 and 43.62% above the 52-week low of $31.55. If we look at the company’s 10-day average daily trading volume, we find that it stood at 19.57 million shares traded. The 3-month trading volume is 15.63 million shares.

The consensus among analysts is that Coinbase Global Inc. (COIN) is a Hold stock at the moment, with a recommendation rating of 2.00. 5 analysts rate the stock as a Sell, while 2 rate it as Overweight. 13 out of 30 have rated it as a Hold, with 8 advising it as a Buy. 2 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.01.

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Coinbase Global Inc. (NASDAQ:COIN) trade information

Sporting 1.45% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the COIN stock price touched $55.96 or saw a rise of 2.39%. Year-to-date, Coinbase Global Inc. shares have moved 58.12%, while the 5-day performance has seen it change 11.96%. Over the past 30 days, the shares of Coinbase Global Inc. (NASDAQ:COIN) have changed 60.02%. Short interest in the company has seen 41.83 million shares shorted with days to cover at 3.69.

Wall Street analysts have a consensus price target for the stock at $61.73, which means that the shares’ value could jump 9.35% from current levels. The projected low price target is $23.00 while the price target rests at a high of $200.00. In that case, then, we find that the current price level is -257.4% off the targeted high while a plunge would see the stock lose 58.9% from current levels.

Coinbase Global Inc. (COIN) estimates and forecasts

Figures show that Coinbase Global Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -20.98% over the past 6 months, with this year growth rate of -181.03%, compared to 5.10% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 80.00% and -100.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be -36.90%.

1 analysts offering their estimates for the company have set an average revenue estimate of $820k for the current quarter. 1 have an estimated revenue figure of $140k for the next quarter concluding in Mar 2023. Year-ago sales stood $850k and $730k respectively for this quarter and the next, and analysts expect sales will shrink by -3.50% for the current quarter and -80.80% for the next.

COIN Dividends

Coinbase Global Inc. is expected to release its next earnings report on November 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 1.94% of the company shares, while shares held by institutions stand at 59.23% with a share float percentage of 60.40%. Investors are also buoyed by the number of investors in a company, with Coinbase Global Inc. having a total of 851 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 12.79 million shares worth more than $715.52 million. As of Sep 29, 2022, Vanguard Group, Inc. (The) held 7.15% of shares outstanding.

The other major institutional holder is AH Equity Partners III, L.L.C., with the holding of over 10.86 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $607.97 million and represent 6.07% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. As of Dec 30, 2022, the former fund manager holds about 3.23% shares in the company for having 5.78 million shares of worth $323.68 million while later fund manager owns 4.21 million shares of worth $235.81 million as of Sep 29, 2022, which makes it owner of about 2.36% of company’s outstanding stock.

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